The job cuts at Royal Bank of Scotland are turning into a “horror story”, according to union Unite, as the total number of staff made redundant in the UK by the bank since its partial nationalisation topped 20,000.
Financial Services Correspondent
Workers unions Unite described the cuts as a “horror story” for the UK and said it was “appalled” by the bank’s actions, which come only a month after it reported a profit for the first half of the year of £1.1bn.
“Just three weeks ago staff were boosted to hear of the £1.1bn half-year profit yet today thousands of them are told that they have no future at the bank,” said Rob MacGregor, Unite national officer.
“It will be a bitter pill for staff to swallow as RBS has decided to move some of the jobs abroad to the Far East, India and America.”
So far 9,000 positions at RBS business centres have disappeared, with back office staff in call centres and IT departments making up the larger part of the redundancies as the bank looks for an annual saving of £2.5bn.
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