EARLIER this month Royal Bank of Scotland chiefs announced that they planned to axe 3,500 posts in England. Those being kicked onto the scapheap include 2,500 Business Services Operations staff and 1,000 IT staff. The cuts will affect both permanent and temporary staff.
To add insult to injury, it’s estimated that 500 IT posts will be transferred to the Far East, India and the US.
This news came just a week after 400 workers were laid off at the RBS Direct Line offices in Glasgow.
Around 12 offices look likely to close in England. They include Leeds, Harrogate, Britstol, Liverpool, Milton Keynes, Norwich and Plymouth. Another three centres are under review.
The RBS has a history of making massive job cuts. For instance, in January of last year it slashed 3,000 staff across its operations. And in February 2009, it axed 2,300 jobs across its back-office operations in the UK. 9,000 positions were axed in April this year and a further 500 IT positions went in June.
These latest job cuts (and those at RBS-owned insurers Direct Line) come despite bank profits of £1.14 billion in the first half of this year. This is on top of the £20 billion bailout the RBS received from the last Government.
RBS – which is still 84 per cent under government ownership - has cut 27,000 jobs worldwide since it announced restructuring plans early last year.
The final total is expected to reach a staggering 30,000.