LIVE TV DownloadNews18 App
News18 English
Powered by cricketnext logo
»
1-min read

RBS to Cut Over 400 Jobs in UK, Move Many of Them to India

The UK's largest government-owned bank said it was moving the jobs, which help handle loans for small businesses, as part of an ongoing cost-cutting drive.

PTI

Updated:June 25, 2017, 11:45 PM IST
facebookTwittergoogleskypewhatsapp
RBS to Cut Over 400 Jobs in UK, Move Many of Them to India
File Picture
Loading...
London: British lender Royal Bank of Scotland said on Sunday that it is cutting 443 UK jobs dealing with business loans, and plans to shift many of the roles to India.

The UK's largest government-owned bank said it was moving the jobs, which help handle loans for small businesses, as part of an ongoing cost-cutting drive.

“As we become a simpler, smaller bank, we are making some changes to the way we serve our customers. Unfortunately, these changes will result in the net reduction of 443 roles in the UK," a spokesperson for the bank said.

The bank said it would support staff affected by the "disappointing news", including by moving them into new roles where possible.

Workers' union Unite said British workers and taxpayers would lose out from the move.

"By shipping these jobs to India, RBS will be getting that work done more cheaply at the cost of jobs and livelihoods here in the UK," the spokesperson said.

RBS is 73 per cent owned by the UK government after a 45-billion-pound bailout in 2008.

Last month also, the bank had announced some job cuts and plans to move some of them to India.

Catch the biggest newsmakers and the biggest newsbreaks on CNN-News18, the only news destination. Keep watching CNN-News18 at just 50 paise per month. Contact your cable/DTH operator now!

*Rental/capacity fee of Rs. 130/- as charged by cable/DTH operator may apply. **GST extra.
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Sun Pharma 390.75 -8.39
Reliance 1,184.35 4.40
Jet Airways 281.20 -1.44
Yes Bank 198.60 -1.44
HUL 1,744.10 -0.42
Company Price Change %Gain
Sun Pharma 390.75 -8.52
Reliance 1,182.95 4.34
ICICI Bank 371.90 -0.39
Jet Airways 281.35 -1.21
Yes Bank 198.25 -1.59
Top Gainers
Company Price Change %Gain
Reliance 1,184.35 4.40
Wipro 346.15 3.21
Kotak Mahindra 1,240.20 1.66
Hindalco 208.80 1.36
Adani Ports 399.30 1.22
Company Price Change %Gain
Reliance 1,182.95 4.34
Kotak Mahindra 1,237.35 1.41
HCL Tech 964.50 1.02
Asian Paints 1,401.30 0.85
ONGC 146.25 0.79
Top Losers
Company Price Change %Gain
Sun Pharma 390.75 -8.39
Bharti Airtel 311.15 -6.29
GAIL 322.15 -3.08
Larsen 1,317.90 -2.09
HPCL 239.50 -1.92
Company Price Change %Gain
Sun Pharma 390.75 -8.52
Bharti Airtel 310.95 -6.42
Larsen 1,318.25 -2.07
Axis Bank 664.30 -1.77
Yes Bank 198.25 -1.59

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results