Saturday, April 18, 2009

Anger as Royal Bank of Scotland cuts 9,000 jobs

The scale of the part-nationalised lender's latest redundancy programme – under plans to cut 9,000 technology, property, operations and processing jobs worldwide in the next two years – provoked union outrage.

The bank will cut 4,500 of these jobs in Britain in a clear-out of its back-office operations - on top of the 2,700 UK positions lost in the retail and corporate bank earlier this year.

Vince Cable, the Liberal Democrat Shadow Chancellor, said: "As he enjoys his multimillion-pound pension, Sir Fred Goodwin should spare a thought for the thousands of people he has now put out of work."

Rob MacGregor, national officer for Unite, added that the news was "truly devastating".

"Unite is appalled that thousands of people who form the backbone of the RBS operations are to be made redundant," he said. "These employees are totally blameless for the current position which RBS is in, yet they are paying for the mistakes at the top of the bank."

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