royal bank of scotland axes 1400 more jobs amid crisis
Last Updated : GMT 10:30:02
Arab Today, arab today
Arab Today, arab today

Unions attack ‘brutal and irresponsible’ behaviour

Royal Bank of Scotland axes 1400 more jobs amid crisis

Arab Today, arab today

Arab Today, arab today Royal Bank of Scotland axes 1400 more jobs amid crisis

RBS received £45.5bn taxpayers’ cash
London - Arabstoday

RBS received £45.5bn taxpayers’ cash State-rescued Royal Bank of Scotland axed 1,400 more positions on Thursday, taking the total number of job losses close to 40,000 since its vast state bailout at the height of the global financial crisis. "RBS has announced plans to restructure its retail head office functions in the UK. The changes will result in 1,400 job losses over the next two years," said in a statement.
A company spokesman told AFP that the latest round of losses took the total job cuts to 38,900 over the past five years, as the bank has sought to transform its fortunes.
He added that following the latest losses, RBS would employ 120,000 staff worldwide.
Unite, Britain's biggest union, attacked the latest cuts as "brutal and irresponsible" behaviour.
However, RBS insisted that the move was aimed at improving customer service.
"To serve our customers well we have to ensure that our resources are focused on the things that matter most to them," said Ross McEwan, head of UK Retail.
"Regrettably, we can only do that by restructuring the way we work in head office so that every effort is concentrated on supporting our customers and the frontline staff that serve them."
The British government owns 81 percent of RBS after the bank was bailed out in the wake of the 2008 financial crisis with £45.5bn of taxpayers' cash, making it the world's biggest banking bailout.
The lender was ravaged by its badly-timed consortium takeover of Dutch bank ABN Amro at the top of the market in 2007, just before the crisis struck.
RBS said earlier this month that it planned a return to the private sector next year following the massive restructuring programme.
The Edinburgh-based bank hopes to begin offloading the government's stake from the middle of next year or possibly earlier.
The lender had also revealed that it swung back into profit in the first quarter with net earnings of £393m ($610m) on a drop in bad loan provisions and after a hefty loss a year earlier.
Its profit after tax for the January-March period compared with a net loss of £1.545 billion in the first quarter of 2012.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

royal bank of scotland axes 1400 more jobs amid crisis royal bank of scotland axes 1400 more jobs amid crisis

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

royal bank of scotland axes 1400 more jobs amid crisis royal bank of scotland axes 1400 more jobs amid crisis

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Japanese regulators raid Airbnb

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Saudi, Bahrain target Iran

GMT 00:48 2017 Monday ,20 November

Saudi, Bahrain target Iran
Arab Today, arab today Europe turns on Facebook, Google

GMT 02:26 2017 Monday ,20 November

Europe turns on Facebook, Google
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Mona Abdel Ghany increased artistic activities

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 02:28 2017 Saturday ,18 November

Anti-drug operation nets 4 tonnes

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday