RBS to cut 1,400 UK jobs

Suzie Neuwirth

STATE-BACKED Royal Bank of Scotland today announced that it will cut 1,400 jobs from its UK retail business in the next two years.

Trade union Unite condemned the bank for its “brutal and irresponsible” behaviour by announcing the cuts just one day after labour market statistics showed that UK unemployment had risen by 15,000.

Unite says that there will be a “significant impact” on RBS’ Edinburgh head office and that two departments providing support to front line staff are being cut by 80 per cent.

Further details of 700 of the job cuts are being confirmed today.

RBS made £826 million in the first quarter of this year, the bank is returning to profit,” said Unite national officer Dominic Hook.

“Unite does not believe there is a business case for cutting jobs so drastically. RBS argues that the restructure will make the bank more customer focused but a bank can't be more customer focused with 1,400 fewer staff.

“Unite is demanding no compulsory redundancies and we expect this state-owned bank to do everything to ensure this is the case.”