ROYAL Bank of Scotland International in Jersey has confirmed that it is reviewing its staff levels locally.
The bank’s Jersey office said this week that ‘as a result of recent events and the economic reality’ the management was ‘looking to reshape’ the business to position the operation for the future.
The statement said: ‘The job cuts announced by RBS affect the mainland. We’ve already stated that a review of our local business is under way. That work is still ongoing and not concluded. Our policy is to communicate with our staff first.’
The response followed news on Tuesday that RBS in the UK was planning to cut a further 2,000 jobs, on the same day that the bank’s former chief executive, Sir Fred Goodwin, and chairman, Sir Tom McKillop, offered profuse apologies to a UK parliamentary inquiry.
The bank, which is now 69 per cent owned by the UK government following a £20 billion bail-out, has been under pressure to cut bonus payments.