RBS reduces staff numbers
(27 August 2010 – Europe) The Royal Bank of Scotland is set to tell around 400 of its Direct Line insurance unit staff that their jobs are being axed, as orders to sell parts of its business by European competition authorities are enforced.
The bank was told last year to sell off Direct Line by 2013 as a condition for joining the UK government's asset protection scheme.
It warned in May that the unit and another insurance operation, Churchill, would see around 2000 job losses.
Now, the BBC says staff at Atlantic Quay in Glasgow have been called to a meeting today to be officially told the office will close within three years.
This will affect around 640 positions although about 240 staff will be offered the chance to relocate.
The bank is refusing to comment, because it has ‘a commitment to our staff that we will always tell them first if we are announcing any changes that affect them’.
It warned in May that the unit and another insurance operation, Churchill, would see around 2000 job losses.
Now, the BBC says staff at Atlantic Quay in Glasgow have been called to a meeting today to be officially told the office will close within three years.
This will affect around 640 positions although about 240 staff will be offered the chance to relocate.
The bank is refusing to comment, because it has ‘a commitment to our staff that we will always tell them first if we are announcing any changes that affect them’.
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