back to article State-owned RBS to axe 9,500 workers

RBS will cut up to 9,000 jobs in its back office, call centre and IT operations, the floundering newly state-owned bank announced today. The bank, which is now 70 per cent owned by the UK government, said it had begun consulting unions and other employee representatives about "a business plan for its back office operations that …

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Coat

Bonus

Saving the bank this much money deserves a bonus!

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Silver badge
Flame

Just getting on with the job ..... making everything pear-shaped?

How very bizarre that anyone listens to what the government wants, given the stratospheric level of proven incompetence displayed by them. Now be a good little boy/girl and do what you're told and stop snivelling about it ... don't you know there's a war on and you've been conned/been taken over.

And where is the idiot military ..... off on escapades making enemies abroad. Strewth ..... and not a king or queen worth the name, and mobilising champions, in sight. What a pathetic charade it has all become, with the money changers/usurers ruling the roost badly ..... but with everyone funds under their key? A nice trick but only whenever you aren't rumbled for then is there all hell to pay with some rapid massive cash and credit transfers to try and stabilise markets and prevent the baying mob from feather nest and cuckoo hunting.

And the flame because you should all be pretty pissed off but with the brain cell count of an amoeba, one can never expect much in the way of thinking.

Now where did I leave that barbecue ...for there are headless chickens to roast for the feast .... and does anyone know how to milk a fat cat?

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You're fired

I know the top man's pension thing has been done to death already, but well I thought the point of getting rid of someone who had performed badly was to slap them where it hurts most: in the earning money sector? So giving the chap a big juicy INCREASED pension payoff is, erm...

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Anonymous Coward

ah bless

"We want the Government to be able to realise value from its investment in RBS"

spoken like a true oily little bastard - paraphrase: "We're only doing it for you, lovely UK taxpayer"

if only you had paid as much care, concern and attention to the pension for the outgoing shithead's pension, we'd be even better off ...

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what ??

this news makes me madder than mad. what are these banks playing at? it's people's livelihood we are talking about here.

forget about "realising value" for investment ! so the gvt want to make a profit along with the banking fat cats now do they? does that mean we, the taxpayer who paid for all of this, will get a dividend? nope. of course not.

what did we give the that bank all that money for if all they're going to do is go-ahead and fire people anyways? to beef up their profitability? I THINK NOT.

grrrrrrrrrr.

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Stop

Never Ending

This is getting ridiculous! I can understand the need to restructure RBS with all the money it has lost, but does anyone get a clue that they could JUST cut the pay of all these ******* high roller bankers and save 85% of the jobs they have decided to cut! Surely if we OWN 70% of the Bank we can decide how much they get PAID, since we can decide to TAKE their jobs away....

And oh yeah and least we forget about the £15 Million pay off that we like to give to Fred who runs the company into the ground that WE have to bail out.. who gonna bail out all these people without a job.. good luck with that one, will they be getting a decent pay off? Unlikely....

I have an idea lets get rid of all the banks and have 1 Government owned bank where they can control the pay of the Bankers and get rid of all the high rollers, let them leach off some other country and see how far they get....

Rant over....

Good luck with all the RBS people who have to lose their jobs while the high rollers keep raking it in... on us of course...

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Pirate

Same old story

Dispensable in order to maintain return to shareholders.

But! It is good to return to my favourite topic: since than *anking sector has got us into this awful, stupid and totally predictable mess has anyone asked the *anking sector for ways and means to get out of the mess it created?

Pirates: as that is what the sector is becoming/has become

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There's no justice

Let me get this straight...

- People at the top i.e. Goodwin f*ck up big time and come close to destroying the bank through poor judgement, dodgy decision-making and pure greed.

- Customers lose money

- Shareholders lose money

- Employees lose jobs and possibly much more.

- Taxpayers foot the bill for the cock-ups at the top.

Meanwhile Goodwin site pretty with a huge pension and payoff.

HTF do they manage to get away with this? It's ethically and morally reprehensible!

It seems we reward failures well.

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"Redeployment"

I have a suggestion for them, how about dismissing people from the Global Banking and Markets Division (ie. the pricks who got them into trouble in the first place) and move all the extra Manufacturing staff over.

After all, they can't arse it up any more than the current GBM staff have. Bunch of overpaid, arrogant wankers.

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Anonymous Coward

OMG

That should save RBS about 200 million in wages, I don't think this lot will be on the same T&C's as Sir Fred lol.

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Paris Hilton

Is there an opportunity here?

Rather than flooding the market with a large number of skilled boffins, administrators and team leaders why not get them onto fixing up the various techno-shambles in government IT?

Being used to the rigours of commercial IT means that these staff can generally deliver on time and budget, unlike most of Whitehall's IT projects. Not only that; they're used to large-scale enterprise networked secure solutions too. In all the post-crisis lambasting of RBS there has been no criticism of their IT or back-office skills.

Terminate current Government IT contracts instead and give the RBS team a chance - it makes more sense than wholesale redundancy.

Paris 'cos that's where I'm heading.

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Anonymous Coward

bonus

so when people had to be contractually paid bonuses despite the losses, it was all 'we have no choice and after all think of all the poor back room and counter staff' not that bonuses stopped at that level.

now it's we have to lay off staff....I'm sure they'd rather still have their jobs an no one had a bonus

you couldn't make this sort of crap up

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It gets worse

Don't forget that this comes just a couple of days after the board awarded itself tasty new bonuses and options.

So, taking poor peoples' money to give to a banker that broke a bank and wiped out workers' pensions, followed by making more people poor (by firing them) in order for those at the top to get richer.

I can haz revolutionz, plz?

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Unhappy

*anking sector?

Board member:

1 - Oh things have gone so awfully, terribly wrong. Well I suppose I must have a great big super bonus and salary increase just to sort it out.

2 - Ah things are going great! The economy is doing swell, marvellous really. Well I suppose I must have a great big super bonus and salary increase just to sort it out.

3 - Hmm, things are sort of middling along neither one way or the other. Well I suppose I must have a great big super bonus and salary increase just to sort it out.

It is the fund handlers methodology: any change is a good change, any change brings in extra muni for me.

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