October 29, 2008

Bank jobs at risk

It may have only been a few days ago when the Royal Bank of Scotland (RBS) were bailed out by the government to the tune of around £20 billion, but already it would seem that there are plans to axe around sixteen thousand jobs, which is around ten per cent of the bank’s global work force.

The bank are set to introduce a voluntary redundancy scheme within the next six months, but originally the plan was to gradually introduce the job cuts over a period of time as not to cause so much distress and panic amongst the staff and customers, but obviously this cannot be done now.

To put the whole thing in perspective the RBS employ around sixteen and half people in Scotland alone, although it has to said that the company will be cutting staff on a global scale not localised to any particular area.

Source [Daily Record]