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
245 - 361 jobs Number of planned job losses
45 jobs Number of planned job creations
Announcement Date
18 June 2014
Employment effect (start)
18 June 2014
Foreseen end date
Description
Large High Street bank, NatWest, part of the government-owned Royal Bank of Scotland (RBS) Group, has announced a restructure of its branches that will result in the loss of 361 branch manager positions.
The bank is reported as trying to keep the number of compulsory redundancies to a minimum. In this respect, the job losses will be offset, to some extent, by the creation of 116 new roles. While the new roles will be more senior to those roles that have been abolished, a spokesperson for NatWest has said that the bank expects to fill some of the new 116 jobs with employees whose jobs have been abolished. The addition of 45 further jobs in the area of customer service will also be created as a result of the current restructure.
Sources
18 June 2014: International Business Times
18 June 2014: BBC News
Citation
Eurofound (2014), NatWest Bank, Internal restructuring in United Kingdom, factsheet number 77266, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77266.
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