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
1,400 jobs
Number of planned job losses
Job loss
Announcement Date
16 May 2013
Employment effect (start)
17 May 2013
Foreseen end date
16 May 2015

Description

Royal Bank of Scotland (RBS) has announced plans to cut 1,400 jobs from its retail banking head office. The cuts will be implemented over the next two years. Almost half of the planned redundancies are likely to be made in Edinburgh.

Affected positions include marketing, communications and other support services. According to RBS, no face-to-face customer-service staff will be affected. RBS has already announced more than 35,000 job cuts following its bail out in 2008.

For previously announced restructurings announced by RBS see RBS-UK2012a, RBS-UK2012b, RBS-UK2012c, RBS-UK2010a, RBS-UK2010b, RBS-UK2010c, RBS-UK2009a and RBS-UK2009b.

Sources

  • 16 May 2013: BBC News

Citation

Eurofound (2013), Royal Bank of Scotland, Internal restructuring in United Kingdom, factsheet number 75427, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75427.