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RBS to cut 900 jobs

by: Christine Toner
  • 16/08/2017
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RBS to cut 900 jobs
The Royal Bank of Scotland (RBS) is planning to cut 900 IT staff by 2020, according to Unite.

The union says the lender has informed staff that it will be cutting 40% of the permanent staff at its London IT function over the next three years along with 65% of its contractors, bringing the total number of job cuts to 880.

The bank has faced criticism for its IT investment and suffered problems earlier this year as customers had problems accessing accounts and reported missing payments.


Skeleton service

Rob MacGregor, Unite national officer, said: “Royal Bank of Scotland is continuing with its savage jobs culling program with today’s announcement of a 40% cut in IT staff, totalling nearly 900 staff. The decade of slashing jobs has done nothing to boost morale, increase consumer confidence or improve the bank’s performance.

“By 2020 just a fraction of the RBS IT function will remain, leaving this organisation operating a skeleton service with the customers and remaining staff paying the price.

“RBS’s fixation with cutting employee numbers, restructuring and offshoring work that could reasonably be done by displaced staff within the RBS IT community is unacceptable. This British-taxpayer funded bank should be concentrating on investing in jobs here in the UK, rather than wholesale cuts.”

Earlier in the year the lender was forced to deny claims from several national newspapers that it was to cut 15,000 jobs.

Nobody from the lender was available for comment.

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