Branch closures at RBS as customers shift to digital banking

Close to 800 RBS employees are set to lose their current jobs as the bank plans to close around 180 branches in the UK and Ireland. The bank states the measures follow a shift away from retail banking, the Financial Times reports.

RBS expects 774 full time employees will lose their jobs, of which 300 will be redeployed elsewhere in the bank. According to the bank, it has little choice but to change the way it operates. "As customers change the way they bank with us, we must change the way we serve them," RBS said in a statement.

The number of basic transactions carried out at NatWest and RBS branches has decreased dramatically since 2010, while the number of customers using mobile and online channels has soared by 400%, Finextra writes.

A few weeks ago, the company announced it was investing in specialist 'TechXperts', to ensure branch staff are trained to support customers in using online and mobile banking.

Earlier this year, it was reported that RBS planned to cut as many as 15,000 jobs as part of new cost cutting measures. At the time, the bank said it "did not recognise" the number.

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Photo / RBS