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Press Release

RBS staff told of job loss 'horror story'

2 September 2010

Unite the Union has today (Thursday 2nd September) described the announcement by The Royal Bank of Scotland to axe a further 3,500 staff in the UK a "horror story."

Rob MacGregor, Unite national officer said: "The news that The Royal Bank of Scotland is to cut another 3,500 staff from across the UK is a horror story.

"It will be a specially bitter pill for staff to swallow as RBS has decided to move some of the jobs abroad to the Far East, India and America.

"Just three weeks ago staff were boosted to hear of the £1.1 billion half year profit yet today thousands of them are told that they have no future at the bank.

"Unite is appalled that this 84% tax payer supported institution has since 2009 under the banner of a strategic review cut 21,500 staff.

"The scale of the cuts announced today beggars belief and staff across the country today will be left reeling from this news. We continue to see a financial services sector which thinks the skills and expertise of it's staff are a disposable asset with scant regard for the high level of service these very same staff provide to their customers."

The announcement today will impact on Business Services Operations with 2,500 losses and Technology Services facing 1,000 losses.?

The losses will be driven by the closure or withdrawal from 12 UK centres and a further three centres are under review,

One third of all the losses, around 1,500 roles, are attributable to the divestment to Santander of the 318 branches as ordered by the European Commission.

RBS has announced plans to offshore upwards of 500 roles to their existing non-customer facing Technology operations in US, India and the Far East.



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