Royal Bank of Scotland to cut hundreds of jobs and move others to India

 
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Royal Bank of Scotland is majority owned by the taxpayer (Source: Getty)

Royal Bank of Scotland is planning to cut more than 300 jobs and move more roles to India, according to a union.

Unite condemned the 334 cuts, which it said would affect technology areas of the business.

The lender said the changes would result in a net reduction of 92 jobs. City A.M. understands 154 contractual positions are to be cut. Some 180 permanent positions are to be cut also, but all but 92 of these employees will be able to apply for other roles.

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Rob MacGregor, Unite national officer said:

Unite cannot understand how RBS, which continues to be taxpayer backed, can justify hundreds more staff cuts and continue transferring important work out of the country.

It is wholly inappropriate and unjustified for these technology roles to be sent offshore. Unite has called on RBS to halt the offshoring announcements and impose a moratorium on the offshoring of jobs. The loss of these jobs to India does nothing to support the well-being and livelihood of UK workers and their families, this is not in the taxpayer interest.

Unite has sought a guarantee of no compulsory jobs losses as a result of the announcement made today.

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An RBS spokesperson said: “As RBS moves towards becoming a simpler, smaller UK-focused bank, we’re continuing to restructure our back office support and reducing its size so it’s a better fit for our business.

“Unfortunately, these changes will result in the net reduction of 92 roles. We understand this will be difficult news for staff and we will be offering support to those affected, including redeploying people in to other roles where we can.”

Unite said the cuts would affect the following areas of the business: CTO, Finance Solutions, CPB Technology, NatWest Markets Technology, Controls, Performance and Business Management (P&BM), Core and Payments, PBB Technology, Digital Engineering Services, Risk Solution and EC Solutions Technology.

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