NatWest Seeks 550 Redundancy Volunteers In Latest Branch Reshuffle | Economic news

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NatWest says it has to lay off around 550 people and close a large London office.

The bank has promised that there will be no mandatory layoffs and that a “full” package will be available for those who volunteer to quit their jobs as part of the offer.

NatWest said no limits or targets had been set on the numbers involved, but requests would be reviewed regionally to ensure customers continued to receive “the best service”.

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Many branches remained open during the lockdown in the UK, but with reduced opening hours

The group, which recently changed its name from RBS to reflect the broader business of NatWest, said it was looking for branch managers, senior bank managers and personal bankers to exit the two NatWest brands and RBS.

Although he did not blame the impact of the coronavirus direct crisis, he referred to a continuous evolution of customers towards online and mobile services to the detriment of agencies.

Commenting on the planned job cuts, a spokesperson said, “We need to respond to changing customer behavior and growing customer demand for digital banking services.

“We have made the decision to invite applications for voluntary termination and we will support colleagues who apply with a full support package.

“There will be no compulsory dismissal following this announcement. ”

UK banks have claimed for several years that the rebound in customer demand for digital banking services has led to a decrease in demand for in-branch services.

Thousands of agencies and tens of thousands of jobs have been lost as a result.



July: The deluge of job cuts intensifies despite help from the streets

Critics have accused lenders of only caring about cutting costs, leaving many towns and villages without access to physical banks in the process.

the COVID-19[feminine[feminine The pandemic will only increase the number of customers using branches.

NatWest, which announced last month that 50,000 employees were required to continue working from home until 2021, also confirmed on Wednesday that it would be leaving its Regents House base in London after a review of the use of his property in the capital.

The office can accommodate up to 2,500 people.

“Our working methods had evolved, even before the coronavirus pandemic,” added the spokesperson.

“We have revised our real estate strategy in London to better reflect how we will work in the future. ”

“As a result, we will be leaving Regents House and reconfiguring our remaining properties in London at 250 Bishopsgate and 440 Strand. “

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