The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64.1 - Monetary intermediation
New offshoring locations
298 jobs Number of planned job losses
Announcement Date
5 March 2012
Employment effect (start)
Foreseen end date
Description
The Royal Bank of Scotland, an Edinburgh-headquartered bank, is moving around 300 jobs from UK to India. The offshoring concerns 215 full-time staff and 83 temporary positions mainly in the finance departments. A timeline for the move has yet to be announced.
The trade union Unite has criticized the move arguing that RBS should reduce bankers bonuses rather than cutting staff. The company has said it will do all it can to support staff including offering redeployment opportunities where possible.
Since 2008 the bank has cut 35,000 jobs and has announced 4 consecutive years of losses. For past restructuring rounds see e.g. Fact sheets 19645, 18285 and 14869.
Sources
5 March 2012: The Guardian
Citation
Eurofound (2012), Royal Bank of Scotland, Offshoring/Delocalisation in United Kingdom, factsheet number 73221, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73221.
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