RBS cuts hundreds of UK tech jobs
10 May 2017 | 5473 views | 6
The Royal Bank of Scotland is shedding hundreds of UK technology jobs, offshoring much of the work to India.
Unite the Union says that 334 technology jobs in areas such as CTO, NatWest Markets Technology, Core and Payments, and Digital Engineering Services are being axed.
RBS says that it will create 88 new positions, meaning that a net 246 jobs will go - 92 full time staffers and 154 contractor roles. The bank says it is also adding 38 new Indian positions.
RBS says the cuts are part of back office restructuring as it transforms into a "simpler, smaller UK focused bank". Earlier this year it pledged to take out a further £750 million in operating costs over the year and £2.5 billion over the next four years after reporting widening losses.
Rob MacGregor, Unite national officer, says: "Unite cannot understand how RBS, which continues to be taxpayer backed, can justify hundreds more staff cuts and continue transferring important work out of the country.
"It is wholly inappropriate and unjustified for these technology roles to be sent offshore. Unite has called on RBS to halt the offshoring announcements and impose a moratorium on the offshoring of jobs."