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 - Financial service activities, except insurance and pension funding
792 jobs Number of planned job losses
Announcement Date
1 May 2018
Employment effect (start)
1 July 2018
Foreseen end date
30 November 2018
Description
Royal Bank of Scotland (RBS) has announced plans to close 162 branches which will result in the loss of 792 jobs. The latest cuts will begin towards the end of July and continue throughout August. Then further closures will take place in November 2018. The closures will affect branches in England and Wales only and customers are being told that they can use Natwest branches, which are also part of the group, for their banking. The Unite union has condemned the plans and has accused RBS of neglecting its rural customers many of whom it argues will now face long journeys to access their nearest bank.
The announcement comes six months after the previous round of closures, announced at the end of 2017.
Sources
1 May 2018: BBC Website
Citation
Eurofound (2018), Royal Bank of Scotland (RBS), Internal restructuring in United Kingdom, factsheet number 94166, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/94166.
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