Royal Bank of Scotland (RBS)

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
UK and other countries
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding
9,000 jobs
Number of planned job losses
Job loss
Announcement Date
7 April 2009
Employment effect (start)
Foreseen end date

Description

On 7 April 2009, the Royal Bank of Scotland, which is majority owned by the British governement, announced 9,000 job cuts worldwide in a bid to reduce costs and repay governemnt funds. The job cuts will  affect back-office operations mainly in the UK. These job cuts come on top of the 2,700 announced in Britain earlier this year.

Sources

  • 7 April 2009: The New York Times

Citation

Eurofound (2009), Royal Bank of Scotland (RBS), Internal restructuring in World, factsheet number 69983, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69983.