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 64.19 - Other monetary intermediation
246 jobs Number of planned job losses
Announcement Date
27 November 2013
Employment effect (start)
27 November 2013
Foreseen end date
Description
The Royal Bank of Scotland (RBS) has announced plans to cut 246 jobs in London and Essex.
The cuts follow a deal between RBS and the Corsair consortium, whereby RBS will sell 314 branches to Corsair for GBP 600 million.
RBS stated that compulsory redundancies would be kept to a minimum and it would assist affected staff with redeployment. Worker representative criticised the cuts and argued that redeployment opportunities are not geographically viable.
Earlier in 2013, RBS had announced to cut 1,400 staff from its retail banking head office. In 2012, the bank had announced the creation of 351 jobs and the cut of 618 positions.
Sources
27 November 2013: BBC News
Citation
Eurofound (2013), Royal Bank of Scotland (RBS), Internal restructuring in United Kingdom, factsheet number 76270, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76270.
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