Your IndustryMay 10 2017

RBS jobs to go in bid to become 'simpler' bank

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RBS jobs to go in bid to become 'simpler' bank

RBS, which is 73 per cent owned by the British taxpayer, is making redundancies in a bid to become a “simpler” UK-focused bank.

The bank has said 250 roles will be affected, including 92 full-time staff and 154 contractor roles.

Most of the roles are understood to be technology-related and based in London.

An RBS spokeswoman said: “As RBS moves towards becoming a simpler, smaller bank UK focussed 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, the union representing RBS staff, has claimed that as many as 334 jobs are being cut, with some being offshored in India.

But RBS has said 180 people will be able to apply for 88 new roles, meaning 92 of them will be made redundant.

Unite's figure is reached by adding the contractor roles which are being made redundant.

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.”

In 2013 RBS announced plans to cut 1,400 jobs over the next two years as part of plans to restructure its head office.

Last year the bank culled another 550 jobs, including 221 advice roles, in a move to put its faith in robo-advice.

damian.fantato@ft.com