NW threat as RBS cuts 2,600 posts
THE Royal Bank of Scotland’s decision to cut a further 2,600 jobs could impact the 1,400 staff employed in its insurance division across the North West.
Around 2,000 of the job losses are across its insurance division, encompassing the Direct Line, Green Flag, Churchill and Privelege brands.
These brands employ 1,364 staff across the North West at locations in Manchester, Liverpool, Salford, Heywood and Middlewich.
A spokesperson for the company said it was too early to say how many staff across the region would be affected.
The remaining 600 posts will be cut from the bank’s retail offices in London and Edinburgh.
RBS has started consultations with staff and their representative bodies and said it would aim to reduce the need for compulsory redundancies.
Paul Geddes, chief executive of RBS Insurance said: “Pitched against an ever-competitive market, we have had to explore options that will help us to achieve greater cost efficiencies, as we head towards the divestment of RBS Insurance. This will enable us to deliver great value for customers and acceptable shareholder returns.
“I am, therefore, proposing to take action that will achieve an overall cost reduction, while maintaining our excellent customer service. Regrettably, this is likely to affect up to 2000 roles across the division over the next twelve months, including around 500 back office jobs which we are proposing to off-shore.”
