RBS to Cut Thousands of UK Jobs
Sector: Banking & Finance
3rd September 2010
The state owned bank yesterday revealed plans to cut 3,500 back office jobs, despite posting half-year profits in excess of £1 billion a few weeks ago. The losses had been driven by the closure of 12 business services sites across the country, which will leave ten sites remaining in operation including centres in London and Edinburgh. One third of all losses are attributed to the sale of 318 branches to Santander which was ordered by the European Commission.
In response to this news an RBS spokesperson states that: “Having to cut jobs is the most difficult part of our work to rebuild RBS and repay taxpayers for their support. We continue to make efficiencies across our business and adjust our plans in line with the divestments we have been required to make by the EU. We will do all we can to support our staff, offer redeployment opportunities wherever possible and keep compulsory redundancies to an absolute minimum.”
The union Unite believes that RBS’ decision to cut a further 3,500 jobs in the UK is a “horror story”. Rob MacGregor, National Officer, adds: “Unite is appalled that this 84% tax payer supported institution has since 2009 - under the banner of a strategic review - cut 21,500 staff.
“The scale of the cuts announced beggar’s belief and staff across the country today will be left reeling from this news. We continue to see a financial services sector which thinks the skills and expertise of its staff are a disposable asset with scant regard for the high level of service these very same staff provide to their customers.”
Source: Times
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