Some 3,000 signatures from Ulster Bank staff rejecting planned changes have been sent to directors of the bank and its parent, Royal Bank of Scotland.

The planned changes will lead to cuts in staff levels of up to 20 per cent and pay cuts ranging from £3,500 (€4,444) to £10,000 per year, according to the Irish Bank Officials' Association (IBOA), which organised the petition. IBOA assistant general secretary Mr Larry Broderick said balloting for possible industrial action was under way, with results in the Republic expected by December 12th.

"Staff are saying no to indiscriminate salary cuts, no to compulsory redundancies and no to a new bank that devalues its employees and reduces services to customers," said Mr Broderick. "Despite record profits being earned, the bank is deciding to repay the loyalty and dedication of its staff by imposing large pay cuts."

If current pay and conditions are honoured and there are no compulsory redundancies, the IBOA would be happy to negotiate the implementation of a change programme at the bank, he said.

However, Ulster Bank deputy chief executive Mr Paddy McMahon rejected the claims of redundancies and pay cuts and said the petition would not change management's plans. "It won't weaken management's resolve to effect change which we feel is in the bank's interest, customers' interest, staff interest and in the interests of our shareholder," he said.

"The petition is a union-inspired ploy taken in a charged atmosphere at a time when the bank had barely tabled its plans."