RBS to cut 600 jobs in UK
Royal Bank of Scotland (RBS) is cutting almost 600 jobs in its UK retail bank.
British and Irish trade union Unite has reacted to the news.
RBS will axe about 200 positions across London and the south east of England, with 400 jobs to go in the Midlands, east and the north of the country, Unite says in a statement.
The bank will also close about 32 branches as part of the changes, it says.
Unite Regional Officer Lyn Turner says in a statement: “With job losses across the country and surviving branches on reduced hours, there’s no doubt this latest round of cuts will hurt the bank’s customers as well as our members.”
This latest development is part of the bank’s cost cutting measures.
Ross McEwan, CEO at RBS, is at the head of its drive to axe thousands of jobs and get rid of its assets across the globe.
The bank received a £45.5 billion-pound ($64 billion) taxpayer-funded bailout in 2008, but is still struggling to survive amidst low interest rates from the Bank of England and slow economic growth.
RBS employed around 27,000 staff at its personal and business banking division in the UK and Ireland at the end of 2015, out of approximately 88,000 employees across all operations.
