Multilingual Business Communication

April 7, 2009

More job losses at Royal Bank of Scotland

Filed under: employee communication, Wouter Deconinck — meertaligebedrijfscommunicatie @ 7:57 pm

The Royal Bank of Scotland, one of Britain’s biggest banks, has announced that on top of the already earlier announced 2,700 job cuts another 9,000 people world-wide will have to rbs_logo leave the bank. RBS is still facing problems due to the credit crunch that started in 2008, even after it has been nationalized.

RBS seeks to reduce costs and repay government funds. Therefore, jobs will be cut in the “back office” or administrative divisions. The new chief executive, Stephen Hester, has announced that the new job losses are unfortunate but essential if RBS wants to regain its strength as an independent bank.

Furthermore, discussions with unions have only just begun. Rob MacGregor, Unite national officer, made the appropriate remark that “Unite is appalled that thousands of people, who form the backbone of the RBS operations, are to be made redundant. 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.” I must agree with the unions’ opinion that the bank, since it has been nationalized, is now indirectly owned by the tax payer and that RBS should not run out on its employees. However, I also believe that the management wants nothing else but as few job losses as possible as well. Therefore, I am confident that both parties will collaborate to find other options to decrease the number of job cuts than the 9,000 that were announced.


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