RBS to cut more than 250 jobs amid cost-cutting overhaul

Royal Bank of Scotland has unveiled plans to cut approximately 250 jobs between permanent and contractor staff, amid an overhaul in its back office operations.

The FTSE 100-listed lender said 180 permanent positions will be put at risk, which will see 92 employees left out of work and the remaining 88 be relocated in new positions the bank is set to create.

Most of the roles set to be affected are understood to be based in London and the bank said the decision was motivated by its desire to become "a simpler, smaller UK-focused bank".

RBS, which is 72% owned by the taxpayer, added 154 contractor positions are also set to go later this year, while 38 new jobs will be created in India.

"As RBS moves towards becoming a simpler, smaller UK-focused bank, we're continuing to restructure our back-office support and reducing its size so it's a better fit for our business," said a bank spokesman.

"Unfortunately, these changes will result in the net reduction of 92 roles.

"We understand this will be difficult news for staff and we will be offering support to those affected, including redeploying people in to other roles where we can."

However, the Unite union claimed that as many as 334 positions would be cut and that more jobs would be transferred to India.

"Unite cannot understand how RBS, which continues to be taxpayer-backed, can justify hundreds more staff cuts and continue transferring important work out of the country," said Unite national officer Rob MacGregor.

"It is wholly inappropriate and unjustified for these technology roles to be sent offshore."

RBS, which declined to comment on Unite's statement, last month reported its first quarterly profit since 2015, adding its cost-cutting plan for 2017 was ahead of schedule, with 37% of the planned £750m of cuts achieved.