Internal restructuring
United Kingdom
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.19 - Other monetary intermediation

3,700 jobs
Number of planned job losses
Job loss
Announcement Date
2 November 2009
Employment effect (start)
Foreseen end date


RBS has announced plans to cut 3700 jobs across the UK. The cuts amount to 14% of the company's retail banking workforce and they are part of cost-cutting plans to improve RBS' competitive position in the market. RBS characterised the bank as 'over-staffed when compared with competitors' and aims to implement the majority of the cuts through voluntary means over the next two years. On 3 November 2009 RBS is to announce the sell-off of parts of the group in a scale-down effort asĀ foreseen by the European Commission for all banks bailed out with state aid. However, the company claims that the job cuts are not related to the announcement of the sell-off.


  • 2 November 2009: BBC News


Eurofound (2009), Royal Bank of Scotland, Internal restructuring in United Kingdom, factsheet number 69799, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69799.