RBS

Type
Offshoring/Delocalisation
Country
United Kingdom
Region
Location of affected unit(s)
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.1 - Monetary intermediation
New offshoring locations
443 jobs
Number of planned job losses
Job loss
Announcement Date
25 June 2017
Employment effect (start)
Foreseen end date

Description

Royal Bank of Scotland (RBS) is reported to be cutting 443 jobs from its division which deals with business loans and is moving the work to India. As yet there is no information on when the UK jobs will be cut. The move is being announced as part of an ongoing drive to reduce costs across the group and comes shortly after technology roles have also been outsourced to India. The decision to move the work, which primarily deals with small businesses, has been criticised by the Federation of Small Businesses. A spokesperson for the group argued that this would do further damage to trust, which has already been badly affected by the bank's branch cutting measures. 

Sources

  • 25 June 2017: BBC Website

Citation

Eurofound (2017), RBS, Offshoring/Delocalisation in United Kingdom, factsheet number 91430, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/91430.