Union leaders attack 'brutal' RBS job cuts

 

Union leaders attacked the Royal Bank of Scotland today for announcing “brutal” cuts of 600 jobs from its financial planning service.

Unite said the cuts represent a 50% reduction in the department across the country.

National officer David Fleming said: “These latest Royal Bank of Scotland job losses are brutal. Six hundred staff, who for some time have faced job uncertainty as the bank reviewed their jobs, have today heard the worst possible news.

“Unite, for some time, has had major concerns about the appalling manner in which these workers at the bank have been treated. The union has continually raised with the bank the increasingly unachievable targets imposed on the workforce and is calling on it to review this redundancy procedure.

“Those losing their jobs today are a highly-skilled workforce, and the bank has refused to take into account economic factors which have impacted performance and achievability of targets.

“Unite will oppose all compulsory job losses and challenge the ongoing management of this area of RBS.”

RBS is 82% taxpayer-owned.

RBS said in a statement: "The Retail Distribution Review legislation takes effect from December 31 2012 and will have a fundamental effect on how financial institutions deliver advice to customers across the whole industry, and for the workforce involved.

"From December 31 2012, customers will be charged a fee for the advice they receive from a qualified professional. If our customers choose financial advice for investment products, the costs will be made transparent at the outset.

"As a response to this, we will be reducing the number of roles by 618 across UK and creating 351 new roles. Having to cut jobs is the most difficult part of our work to rebuild RBS and repay taxpayers for their support. We continue to make efficiencies across our business to deliver greater value to our customers and shareholders.

"We will do all we can to support our staff, offer redeployment opportunities wherever possible, keeping compulsory redundancies to an absolute minimum."

PA

Start your day with The Independent, sign up for daily news emails
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
SPONSORED FEATURES
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs General

Recruitment Genius: Junior Designer

£16000 - £18000 per annum: Recruitment Genius: A Junior Designer is required t...

Recruitment Genius: Account Executive - Events

£14000 - £26000 per annum: Recruitment Genius: Are you stimulated by the chall...

Recruitment Genius: Business Development Executive / Sales - OTE £40,000

£18000 - £40000 per annum: Recruitment Genius: This fast growing Insurance Bro...

Recruitment Genius: Junior IT Support Technician

£20000 - £25000 per annum: Recruitment Genius: A Junior IT Support Technician ...

Day In a Page

Solved after 200 years: the mysterious deaths of 3,000 soldiers from Napoleon's army

Solved after 200 years

The mysterious deaths of 3,000 soldiers from Napoleon's army
Every regional power has betrayed the Kurds so Turkish bombing is no surprise

Robert Fisk on the Turkey conflict

Every regional power has betrayed the Kurds so Turkish bombing is no surprise
Investigation into wreck of unidentified submarine found off the coast of Sweden

Sunken sub

Investigation underway into wreck of an unidentified submarine found off the coast of Sweden
Instagram and Facebook have 'totally changed' the way people buy clothes

Age of the selfie

Instagram and Facebook have 'totally changed' the way people buy clothes
Not so square: How BBC's Bloomsbury saga is sexing up the period drama

Not so square

How Virginia Woolf saga is sexing up the BBC period drama
Rio Olympics 2016: The seven teenagers still carrying a torch for our Games hopes

Still carrying the torch

The seven teenagers given our Olympic hopes
The West likes to think that 'civilisation' will defeat Isis, but history suggests otherwise

The West likes to think that 'civilisation' will defeat Isis...

...but history suggests otherwise
The bald truth: How one author's thinning hair made him a Wayne Rooney sympathiser

The bald truth

How thinning hair made me a Wayne Rooney sympathiser
Froome wins second Tour de France after triumphant ride into Paris with Team Sky

Tour de France 2015

Froome rides into Paris to win historic second Tour
Fifteen years ago, Concorde crashed, and a dream died. Today, the desire to travel faster than the speed of sound is growing once again

A new beginning for supersonic flight?

Concorde's successors are in the works 15 years on from the Paris crash
I would never quit Labour, says Liz Kendall

I would never quit party, says Liz Kendall

Latest on the Labour leadership contest
Froome seals second Tour de France victory

Never mind Pinot, it’s bubbly for Froome

Second Tour de France victory all but sealed
Oh really? How the 'lowest form of wit' makes people brighter and more creative

The uses of sarcasm

'Lowest form of wit' actually makes people brighter and more creative
A magazine editor with no vanity, and lots of flair

No vanity, but lots of flair

A tribute to the magazine editor Ingrid Sischy
Foraging: How the British rediscovered their taste for chasing after wild food

In praise of foraging

How the British rediscovered their taste for wild food