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

618 jobs
Number of planned job losses
Job loss
351 jobs
Number of planned job creations
Job creation
Announcement Date
19 June 2012
Employment effect (start)
Foreseen end date


The Royal Bank of Scotland (RBS) has announced plans to cut 618 jobs in response to new legislation coming into force at the end of 2012. The bank also said it would create 351 new advisory roles.

According to the new legislation, customers will be charged fees for investment advice from an expert and as a result RBS expects fewer people using these services.

The job cuts are adding to 35,500 already made since the onset of the financial crisis in 2008. The union United characterized the redundancies as 'brutal'.


  • 19 June 2012: BBC News


Eurofound (2012), Royal Bank of Scotland (RBS), Internal restructuring in United Kingdom, factsheet number 73823, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73823.