800 JOBS TO GO AS BANK WIELDS A XE
RBS plans 162 branch closures
NEARLY 800 jobs are to go at Royal Bank of Scotland after it announced plans to close 162 branches.
The company claims its ownership of NatWest had partly forced it to “review our overall branch footprint”.
The RBS parent company – which is 72% owned by the taxpayer – made the announcement, which will cut 792 jobs, after it decided not to sell another of its assets. It had planned to launch Williams & Glyn bank separately, but it will now reintegrate to the group.
RBS said: “We now have two branch networks operating in proximity to each other, NatWest and Royal Bank of Scotland, in England and Wales. As a result we have had to review our overall branch footprint and have made the decision to close a number of Royal Bank of Scotland branches.”
Defending the move, RBS pointed out that branch transactions are down 30% since 2014. They also said mobile banking had surged 53%, with mobile transactions up 74%.
The closures will be almost instant, with 109 branches set to shut in late July and August this year.
They have been blasted by union Unite, who said the plans were “disastrous”.
WHAT is going on at the Royal Bank Of Scotland?
The troubled firm is closing 162 branches, potentially putting 792 people out of work.
This is despite the government giving it a £45billion bailout at the height of the financial crisis.
How can such a historic institution – which is meant to look after our money – be so terrible at managing its own finances?
And don’t forget, the bank is 72% owned by the taxpayer. So you would like to think they work for us.
Instead, they are making it more difficult for customers.
Many of us still prefer to bank in a branch. For the elderly, it’s often the only way they know.
These latest closures are just another slap in the face from thoughtless fatcats.