Bailed-out bank is planning to axe 40% of permanent IT staff in London and 65% of contractors by 2020, Unite claimsRoyal Bank of Scotland is preparing to cut nearly 900 IT jobs, union officials have warned, as the bailed-out bank continues to trim costs in its battle to regain profitability. Officials at the Unite union said 880 posts were at risk, with RBS planning to lose 40% of permanent IT staff in London and 65% of contractors by 2020. “Inevitably as RBS becomes a simpler, smaller bank focused on the UK and Ireland, our technology function will undergo reorganisation and will reduce over time,” the spokesperson added. A decade ago, before its near-collapse, RBS employed more than 200,000 people around the globe. MacGregor said: “The decade of slashing jobs has done nothing to boost morale, increase consumer confidence or improve the bank’s performance.

Source: The Guardian August 15, 2017 14:33 UTC