RBS set to unveil 2,000 job cuts

BlondeHeadOn

While the big chiefs are apologising....

http://news.bbc.co.uk/1/hi/business/7881672.stm


Royal Bank of Scotland (RBS) is planning to announce a further 2,000 job cuts, the BBC understands.
The position are to go in its back office operations across the UK, and an announcement is due on Wednesday.
RBS, one of the UK banks hardest hit by exposure to bad debts, had to be rescued by the government last year.
In exchange for £20bn of public funds, the government now has a stake of almost 70% in the lender. RBS announced 3,000 job cuts in October.

Record loss
RBS chief executive Stephen Hester warned last month that further job cuts were likely across the banking sector, because of reduced demand for lending as the recession continued. "We, and all other banks, have to cut our costs, and of course that does involve jobs," he said

Laughing_man

I wonder how many of the 'top performers' who's precious bonuses must be funded at all costs will be among thier number?

My bet is it'll be mainly cleaners and counter staff and such- people who have by and large done thier jobs properly- that'll get the push.

[Deleted User]

2300 in uk or 2% worldwide
will not affect customer facing staff

bits from reuters as it won`t let me copy and paste

Dithering_Dad

The term 'back office staff' refers to staff who are not directly involved with the actual business function, so with a bank it will be HR, IT, Internal Finance, etc.

chambta

Dithering_Dad wrote: »

The term 'back office staff' refers to staff who are not directly involved with the actual business function, so with a bank it will be HR, IT, Internal Finance, etc.

I know that retail staff who are not customer facing are worried about their positions. Those positions that I guess in years gone by would have been loosely covered by the term 'middle management'.

The branches themselves really cannot lose staff as they are already staffed for years in such a way that there is nothing to trim. In the 70s/80s and into the early 90s your average branch would have perhaps double the staff they do now.

Dylanwing

That's one way to fund bonusses for those at the top!