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RBS Bank announces offshore job cuts
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by PANORAMA reporter
The Royal Bank of Scotland International (RBSI) said it is cutting 90 jobs at its offshore centres, which include Jersey, Guernsey, the Isle of Man and Gibraltar.
The bank has not yet said how many jobs will go at each centre.
The number of staff working for RSBI in Jersey is 900, in the Isle of Man it is 580, Gibraltar 180 and Guernsey 180.
The bank said: "Our aim is to achieve this through natural staff turnover and voluntary redundancy. However, in light of more challenging market conditions, it is essential to create a structure that reflects changing customer requirements as well as the need to achieve cost efficiencies.
'90' SAYS UNION
Unite the Union is angry that RBS is to make 90 job cuts across Jersey, Guernsey, Isle of Man and Gibraltar. Rob MacGregor, Unite National Officer said: "This latest job loss announcement by RBS will be badly received across all the Islands who are heavily dependent on the financial services sector for local employment. Only last month the bank's workforce were informed of 2,300 job losses across the U.K.
"While the union does not doubt that the global economic downturn continues to bring challenges to the financial services sector Unite will not accept a situation where staff are sacrificing their jobs to compensate for failures at the top of the organisation.
"We will be working to ensure that staff are offered re-deployment opportunities within RBS and will oppose any compulsory job losses."
PROPORTIONAL CUTS?
? Given that the totals employed by RBS in Gibraltar (and Guernsey) are much lower than in the other places, it is to be assumed that, in proportion, job cuts at Gibraltar will reflect this...
Also, given the much larger numbers employed by the bank in Jersey and Isle of Man,it shows what a small finance centre is Gibraltar compared to others...
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