State-backed RBS axing more than 200 tech jobs in shake-up
Written by News on 09/05/2017
State-backed Royal Bank of Scotland is axing more than 200 tech staff and contractor roles in the latest phase of its cost-cutting efforts.
The lender, 72% owned by the Government, is letting go of 154 contractors by the end of the year.
It is also putting 180 permanent roles at risk in a process which will see 88 employees in line for other roles – but the remaining 92 out of work.
Meanwhile the lender is on track to offshore 38 roles to India.
Trade union Unite criticised the move.
It comes months after chief executive Ross McEwan ordered a cost-cutting drive widely expected to result in job losses and branch closures.
The bank said: "As RBS moves towards becoming a simpler, smaller UK focused bank, we’re continuing to restructure our back office support and reducing its size so it’s a better fit for our business.
"Unfortunately, these changes will result in the net reduction of 92 roles.
"We understand this will be difficult news for staff and we will be offering support to those affected, including redeploying people into other roles where we can."
Rob MacGregor, national officer at Unite, said: "Unite cannot understand how RBS, which continues to be taxpayer-backed, can justify hundreds more staff cuts and continue transferring important work out of the country.
"It is wholly inappropriate and unjustified for these technology roles to be sent offshore."
The announcement comes a day before the bank’s annual general meeting.
Last month, the beleaguered lender – rescued by the Treasury during the financial crisis – reported its first quarterly profit since 2015.
(c) Sky News 2017: State-backed RBS axing more than 200 tech jobs in shake-up
