Restructuring events
European Restructuring Monitor (ERM)
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.
Troubled banking group RBS has announced plans to cut another 200 jobs from its workforce as it continues to try to reduce operating costs. The job losses will result in the closure of some branches - RBS branches in Scotland and Natwest branches in Wales and South West England are understood to be those affected. The company which is 73% state owned had announced job cuts as recently as March 2016, offshoring some of the positions as well as cutting jobs in back office positions. A spokesperson for the company confirmed that the branch closures were necessary as footfall had declined as more and more customers switched to banking online. The time-scale for these latest closures has not yet been reported.
Eurofound (2016), RBS, Internal restructuring in United Kingdom, factsheet number 87641, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/87641.