EMCC European Monitoring Centre on Change

Royal Bank of Scotland (RBS)

Royal Bank of Scotland (RBS)

Geographic Location

Country: United Kingdom


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

Employment Effects

Announcement Date: 02-09-2010
Planned Job Reductions min: 3500
Planned Job Reductions max: 3500
Type of Restructuring: Internal restructuring
Employment Effect Start: 01-09-2010
Foreseen End Date: 31-12-2012

Additional Information

Royal Bank of Scotland has announced a further 3,500 job losses. The reductions will come from its technical and back office division in the UK. 1,000 job losses will come from IT support, and 2,500 from support services to other businesses.

Unite national officer Rob MacGregor said that 'The scale of the cuts announced today beggars belief and staff across the country today will be left reeling from this news' and that the cuts would be a 'bitter pill for staff to swallow'.

The bank has told staff that up to 12 offices could close in England. In 2011 Leeds, Bolton, Enfield and Harrogate are set to close or downsize. Norwich, Bradford, Telford, Plymouth, Milton Keynes, Liverpool, Bristol and Borehamwood have been earmarked for the same in 2012. Leicester, Southampton and Nottingham centres are under review.