RBS to cut 3,500 UK jobs
by Gill Montia
Story link: RBS to cut 3,500 UK jobs
Royal Bank of Scotland (RBS) is to cut 3,500 UK jobs as it closes up to 12 offices and completes the sale of 318 branches (as required by the EU Competition Commission) to Santander.
The 84% state-owned group is continuing a restructure having already reduced its headcount by around 4,000 last year.
According to a BBC report, the latest round of cuts comprises 1,000 IT support jobs and 2,500 other support services posts.
Five hundred of the jobs will be offshored as RBS office in Leeds, Bolton, Enfield and Harrogate close in 2011, followed by sites in Norwich, Bradford, Telford, Plymouth, Milton Keynes, Liverpool, Bristol and Borehamwood, in 2012.
The bank is also reviewing the status of centres in Leicester, Southampton and Nottingham.
Trade union Unite has described the latest cull as a “horror story”.