Friday, September 3, 2010

RBS Job Losses - Horror Story

Royal Bank of Scotland, which is more than 80% government-owned, is planning to cut a further 3,500 jobs from its technical and back office division in the UK.

About a third of the job losses are as a result of RBS selling 318 of its branches to Santander, reducing its number of customers and transactions.

Unite has described the jobs losses as a "horror story". An estimated 27,000 job losses have been announced since RBS unveiled its restructuring plan early in 2009.

It is understood that 30,000 jobs will eventually go.


"The scale of the cuts announced today beggars belief and staff across the country today will be left reeling from this news," said Rob MacGregor, Unite's national officer.

He said the cuts would be a "bitter pill for staff to swallow".

The jobs being cut include some 1,000 in IT support and 2,500 in support services to its other businesses.

The bank has told staff that up to 12 offices could close in England, with some jobs added in Greenock and Edinburgh.

The centres set for closure or downsizing in 2011 are Leeds, Bolton, Enfield and Harrogate.

The following year, Norwich, Bradford, Telford, Plymouth, Milton Keynes, Liverpool, Bristol and Borehamwood have been earmarked.

The Leicester, Southampton and Nottingham centres are under review.

Five hundred of the jobs will be relocated to offshore centres such as those in the Far East and India.

RBS reported a loss of £24.1bn for 2008, the largest annual loss in UK corporate history.

However, it has since returned to profit. In the first half of 2010 it made £1.14bn

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