We are so massive in size that layoffs in 1000s of people are not that unusual for us. You'll see many reports on the web about cuts in the investment group, asset management, private wealth, etc. However, you will never see reports about us having massive hiring sprees, doubling the size of the IT group in 6 years, etc., etc. You just see negative things, but when RBS hires, nobody is reporting that and journalists love to focus on job cuts, pink slips, layoffs and redundancies. With this being said, you can expect us to have more job cuts in 2016 and Royal Bank of Scotland is not going to be different if compared to other banks (everyone is cutting resources right now) - at the same time, remember, we'll hire a few thousand people as well.
1 reply
So, no layoffs for now