RBS to cut 600 staff as branch network withers

RBS to cut 600 staff as branch network withers

Royal Bank of Scotland is once again taking the axe to its branch network, cutting 600 jobs, shuttering 34 high street locations and reducing opening hours in hundreds more.

The latest round of redundancies bring the total number of jobs cut by the bank to 1500 this year, with the majority of P45s handed out to staff in the retail division.

Like many of its peers, RBS is struggling to make its large network of branches pay as more customer go online and bank via mobile. It has experienced a 50% drop in footfall over the past six years, while the number of people transacting online has grown fourfold.

In August last year, RBS shut the doors on one site in Leicester city centre because it had a measly 17 customers, while RBS-owned NatWest closed the very branch used in a TV advert promising it would maintain a high street presence.

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