EMCC European Monitoring Centre on Change

Royal Bank of Scotland (RBS)

Company/Organisation:
Royal Bank of Scotland (RBS)

Geographic Location

Country: World
Location of affected unit(s): UK and other countries

Company

Sector: Financial services
Financial and insurance activities
64 - Financial service activities, except insurance and pension funding
Number Employed: 45000
Group: Royal Bank of Scotland (RBS)

Employment Effects

Announcement Date: 07-04-2009
Planned Job Reductions min: 9000
Planned Job Reductions max: 9000
Type of Restructuring: Internal restructuring

Additional Information

On 7 April 2009, the Royal Bank of Scotland, which is majority owned by the British governement, announced 9,000 job cuts worldwide in a bid to reduce costs and repay governemnt funds. The job cuts will  affect back-office operations mainly in the UK. These job cuts come on top of the 2,700 announced in Britain earlier this year.