Britain’s largest union, Unite called a moratorium on continual branch closures and job cuts at the taxpayer backed RBS, warning it was cutting too far to pay for the reckless greed of the past.
Responding to today’s (Friday 24 February) RBS financial results, showing a ninth year of losses, the union highlighted the closure of over 520 RBS branches since 2014 and the loss of tens of thousands of jobs.
While acknowledging changing habits in banking, Unite said loyal staff and customers were disproportionately paying the price for the legacy of Fred Goodwin, while Taxpayers were still footing the bill.
Commenting Unite national officer Rob MacGregor said: “Workers in finance continue to pay the price for the reckless greed and ambition of the past. Nearly 10 years on, shamed banker Fred Goodwin's legacy haunts RBS employees and their families.
"Having closed over 520 branches since 2014, RBS is chief among its competitors in shutting branches and slashing jobs. Its ruthless approach to pay for the mistakes of the past jeopardises customer service and risks leaving communities and businesses reliant on their local bank branch high and dry.
"After nine years of constant flux, Taxpayers who still hold the majority of the shares in RBS, along with loyal staff and customers are left wondering when and where it is going to end.
“While banking habits have changed, we would urge RBS and the government to pause and reflect on the bank's current path, which risks cutting too far, by putting a moratorium in place on further branch closures."
For further information please call Unite head of media and campaigns Alex Flynn on 07967 665 869.
Notes to editors
Unite is Britain and Ireland’s largest trade union with over 1.4 million members working across all sectors of the economy.
The general secretary is Len McCluskey.