RBS to ‘export’ 200 back-office jobs to India

MORE than 200 back office finance jobs at Royal Bank of Scotland (RBS) are being moved from the UK to India as the lender continues to look for “efficiency” savings.

MORE than 200 back office finance jobs at Royal Bank of Scotland (RBS) are being moved from the UK to India as the lender continues to look for “efficiency” savings.

About 120 of the 215 posts being axed will be in Edinburgh, mainly at the bank’s Gogarburn head office but also at its bases at the Gyle business park. The remainder of the cuts will be made at six other RBS operations around the UK.

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A further 83 temporary staff will have their contracts terminated. About 250 permanent posts are being created in India.

None of the jobs being cut are customer-facing but instead involve the finance division, which supplies services to other parts of RBS, such as its corporate banking operations.

A spokesman for the taxpayer-backed lender said: “As we work to rebuild RBS we continue to streamline our business to ensure that we remain competitive.

“Having to cut jobs is the most difficult part of our work to rebuild RBS. We will do all we can to support our staff, offer redeployment opportunities where possible and to keep compulsory redundancies to an absolute minimum.”

Trade unions reacted angrily to the news. David Fleming, a national officer at the Unite trade union, said: “It is outrageous that RBS is cutting staff and jobs are being shipped to India. These highly skilled workers in the finance function of the bank can earn as little as £22,500 per year, yet the group is choosing to make short-term cost savings by cutting hundreds of staff.”