Royal Bank of Scotland

Type
Internal restructuring
Country
United Kingdom
Region
Location of affected unit(s)
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
300 jobs
Number of planned job losses
Job loss
Announcement Date
24 September 2012
Employment effect (start)
Foreseen end date
31 December 2013

Description

Royal Bank of Scotland (RBS) has announced that it has revised planned job cuts in its investment banking business. In January 2012 the bank reported that it intended to cut 3500 (see here)  It has announced that 3000 job cuts will have been made by the end of 2012 with a further 800 occuring by the end of 2013. 

RBS chief executive has cut over 34,000 jobs at the bank since he took over in 2008.

Sources

  • 24 September 2012: The Guardian

Citation

Eurofound (2012), Royal Bank of Scotland, Internal restructuring in United Kingdom, factsheet number 74203, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74203.