Royal Bank of Scotland (RBS)

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
United Kingdom, other locations
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
9,000 jobs
Number of planned job losses
Job loss
Announcement Date
7 April 2009
Employment effect (start)
Foreseen end date

Description

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.

Sources

  • 7 April 2009: The New York Times

Citation

Eurofound (2009), Royal Bank of Scotland (RBS), Internal restructuring in World, factsheet number 69983, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69983.