RBS to cut about 3,500 British jobs, close offices

Royal Bank of Scotland (RBS) Group, Britain’s biggest government-controlled bank, will eliminate 3,500 UK jobs and close 10 offices to reduce costs.

The cuts in technology and administration would involve the closure of English offices including Leeds, Bolton, Telford and Bradford in the next 12 months, the Edinburgh-based bank said in a statement on Thursday.

The reductions bring the total number of British jobs cut by the bank to more than 20,000, since Chief Executive Officer Stephen Hester took over the role two years ago during a government rescue. The 83 per cent taxpayer-owned bank last week announced plans to close 14 offices as part of cuts at its insurance division.

“The news that RBS is to cut another 3,500 staff from across the UK is a horror story,” said trade union Unite’s National Officer Rob MacGregor in a statement on Thursday. “It will be a specially bitter pill for staff to swallow as RBS has decided to move some of the jobs abroad.” RBS would move 500 of the roles to the US, India and the Far East, said Unite. RBS employs about 160,000 people globally, of whom 100,000 are in the UK.