RBSI reviews staff levels

Saturday 14th February 2009, 10:00AM GMT.

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.

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1
Cathy

February 14, 2009 at 3:46 pm

RBSI in Jersey is one of the most efficient banks on the island with strong procedures and strategies in place.

It would be a pity for them to start playing with staff levels as it does appear from a customers perspective that they are very well organized and run.

And no… I don’t work there.

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2
Mister Meanor

February 14, 2009 at 3:50 pm

Surprised anyone? – presumabely the 160 plus staff based here on contract from the UK will be the first to go.

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3
Paul

February 14, 2009 at 5:41 pm

And I’m sure the ones who will lose their jobs are the backroom staff who had absolutely nothing to do with the banks being in the position they are.
I’m sure all non senior managers in the finance industry now realise that the Bank demands their loyalty and last drop of blood but when push comes to shove this loyalty is not reciprocated.
Finance workers are bribed, with the carrot of bonuses, to work long hours and “to sell their soul” to the bank. Now they are realising that these are hollow promises with massively reduced bonuses this year though their level of work has continued or increased from previous years (not to mention the added stress of dealing with clients during the crash) and to cap it all through no fault of their own they could be out of a job.
This is the loyalty the Bank really offers ie none. And more fool all the workers who do put in the 10 hour days and work weekends on “the promise” of a bonus. Now you know the reality.
No bonus, no job, but the Bank will still be laughing at you!!!!!!

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4
Mark G

February 14, 2009 at 7:17 pm

If, and this is a big if, the UK Nationalise all the big banks then they will start looking closer at off shore because of the lost tax revenue so even if the Jersey branch is the most efficient bank it will still be moved or closed.

2009 is going to be an anus horrilibus of a year!!

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5
Alex

February 14, 2009 at 7:47 pm

I wonder what happened to their business plan after all they ask every company who come in about theirs even though they’ve been running there company for years very successfully for many years no doubt the suit that makes the decision has never run anything because if they did they would be working for themselves !! mind you think about the Bonuses ???

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6
watchthisspace

February 15, 2009 at 4:15 pm

Don’t worry they have a business plan – make money and keep making it – no bad thing. But don’t mix up RBS Group with RBSI, RBS Insurance, Coutts, Retail etc in terms of profits.

I’ll bet this is nonsense they’ll make 100′s of millons as they have done every year. Just an opportunity to make more money – or maintain current profit levels in the recession – by sacking a few staff – thats business, and it isn’t nice! Maybe the JEP could try some investigative reporting once their results are out, wonder how many J cats will go ? how many more heads are now employed compared to 3/5 years ago ? Find the actual figures for profit v cost.

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7
P Lee

February 16, 2009 at 8:53 am

According to the Sunday Times yesterday, RBS will shed 20,000/30,000 staff worldwide.

This bank is 70% owned by the UK government so they will not give preferential treatment to offshore centres.

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