Royal Bank of Scotland to Fire 3,500 People

Yesterday, on January 12, 2012 one of the leading UK banks, Royal Bank of Scotland (RBS), announced its plans to cut 3,500 jobs in the investment bank division.

The reorganisation of the RBS, which is to take place this year, will result in the loss of jobs for 3,500 people in bank's international and Irish offices. Most of the job losses are to happen this year.

Let us remind that in the past 2 years, the Royal Bank of Scotland has already fired 30,000 workers, 22,000 of which worked at the UK offices.

Also, last year RBS' major rival, Barclays bank, fired almost 450 employees from its IT department.

Commenting on the bank's move, Mr. Fleming of the Unite Union, said: "It is a disgrace that while on a daily basis, stories are emerging about the massive bonuses at the top of the bank, increasing numbers of jobs are being cut from amongst the hard working staff."

The Government plans to talk to the RBS about the situation its workers find themselves in.