EMCC European Monitoring Centre on Change

Royal Bank of Scotland

Company/Organisation:
Royal Bank of Scotland

Geographic Location

Country: United Kingdom

Company

Sector: Financial services
Financial and insurance activities
64 - Financial service activities, except insurance and pension funding
Number Employed: 100000

Employment Effects

Announcement Date: 24-09-2012
Planned Job Reductions min: 300
Planned Job Reductions max: 300
Type of Restructuring: Internal restructuring
Foreseen End Date: 31-12-2013

Additional Information

Royal Bank of Scotland (RBS) has announced that it has revised planned job cuts in its investment banking business. In January 2012 the bank reported that it intended to cut 3500 (see here)  It has announced that 3000 job cuts will have been made by the end of 2012 with a further 800 occuring by the end of 2013. 

RBS chief executive has cut over 34,000 jobs at the bank since he took over in 2008.