This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-22550543
The article has changed 2 times. There is an RSS feed of changes available.
Previous version
1
Next version
Version 0 | Version 1 |
---|---|
RBS to cut a further 1,400 jobs | RBS to cut a further 1,400 jobs |
(about 3 hours later) | |
Royal Bank of Scotland (RBS) is to cut a further 1,400 jobs from its retail banking head office over the next two years. | Royal Bank of Scotland (RBS) is to cut a further 1,400 jobs from its retail banking head office over the next two years. |
Most of the job losses are expected to be at RBS's offices in Edinburgh. RBS said no customer-facing staff would be affected. | Most of the job losses are expected to be at RBS's offices in Edinburgh. RBS said no customer-facing staff would be affected. |
RBS has already announced more than 35,000 job cuts since it was bailed out following the financial crisis. | RBS has already announced more than 35,000 job cuts since it was bailed out following the financial crisis. |
The government still owns more than 80% of the bank. | The government still owns more than 80% of the bank. |
Ross McEwan, the chief executive of RBS's UK retail operations, said: "To serve our customers well, we have to ensure that our resources are focused on the things that matter most to them. | Ross McEwan, the chief executive of RBS's UK retail operations, said: "To serve our customers well, we have to ensure that our resources are focused on the things that matter most to them. |
"Regrettably, we can only do that by restructuring the way we work in head office, so that every effort is concentrated on supporting our customers and the frontline staff that serve them. | "Regrettably, we can only do that by restructuring the way we work in head office, so that every effort is concentrated on supporting our customers and the frontline staff that serve them. |
"This is clearly difficult news for our staff and we will do everything we can to support them, including seeking redeployment opportunities wherever possible to ensure compulsory redundancies are a last resort." | "This is clearly difficult news for our staff and we will do everything we can to support them, including seeking redeployment opportunities wherever possible to ensure compulsory redundancies are a last resort." |
The Unite union described the cuts as "brutal". | The Unite union described the cuts as "brutal". |
RBS's retail head office division currently employs 3,200 people. Of these, 40% are based in Edinburgh, while the second largest centre is in London. | |
The bank said up to half of the planned job cuts were likely to be made in Edinburgh. | |
Affected roles include marketing, communications and other support functions. | |
RBS said this announcement took the number of job cuts announced since its 2008 bailout to 38,900. | |
Earlier this month, RBS reported a return to profit after racking up big losses last year. | Earlier this month, RBS reported a return to profit after racking up big losses last year. |
Its chairman, Sir Philip Hampton, said the bank might be ready to return to the private sector in 2014, following a huge restructuring programme that includes winding down the investment banking operation. | Its chairman, Sir Philip Hampton, said the bank might be ready to return to the private sector in 2014, following a huge restructuring programme that includes winding down the investment banking operation. |
Previous version
1
Next version