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NatWest seeks 550 volunteers for redundancy in latest branch shake-up

Written by on 12/08/2020

NatWest says it is to make 550 people redundant as the banking sector continues to shift activities from branches to digital services.

The bank pledged there would be no compulsory redundancies and a “comprehensive” package available to those who volunteer to leave their jobs.

The group, which recently changed its name from RBS to reflect the larger NatWest business, said it was looking for branch managers, Premier Banking managers and personal bankers to leave.

While it did not blame the impact of the coronavirus crisis directly, it did cite a continuing customer shift towards online and mobile services at the expense of branches.

The company also confirmed it was to leave its Regents House base in London following a review of its property use across the capital.

Commenting on the job losses, a spokesperson said: “We have to respond to changing customer behaviour and the rising customer demand for digital banking services.

“We have taken the decision to invite applications for voluntary redundancy and will support those colleagues who apply with a comprehensive support package.

“There will be no compulsory redundancy as a result of this announcement.”

 Sky News

© Sky News 2020

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