The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
3,500 jobs Number of planned job losses
Announcement Date
2 September 2010
Employment effect (start)
1 September 2010
Foreseen end date
31 December 2012
Description
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.
Sources
2 September 2010: BBC Website
2 September 2010: The Guardian
Citation
Eurofound (2010), Royal Bank of Scotland (RBS), Internal restructuring in United Kingdom, factsheet number 70892, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/70892.
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