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 - Financial service activities, except insurance and pension funding
258 jobs Number of planned job losses
Announcement Date
5 September 2018
Employment effect (start)
Foreseen end date
Description
Royal Bank of Scotland (RBS) has announced further cuts which will result in the closure of 54 branches and the loss of 258 jobs. These cuts are additional to the 792 job losses announced in May 2018. According to the company, the vast majority of closures will be in locations where there is another RBS or Natwest branch close by. A spokesperson for the Unite union condemned the announcement and argued that many local communities would suffer from the loss of banking facilities. The latest cuts are expected to take effect from January 2019.
Sources
Citation
Eurofound (2018), Royal Bank of Scotland (RBS), Internal restructuring in United Kingdom, factsheet number 95507, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/95507.
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