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RBS to slash insurance jobs after racking up £2Bn losses

RBS to slash insurance jobs after racking up £2Bn losses

RBS to slash insurance jobs after racking up £2Bn losses
As part of its restructuring plans, the Royal Bank of Scotland (RBS) will reportedly dismiss around 85 employees in Bristol who sell insurance policies.
 
The Bristol Post reported that the move is a result of an amalgamation exercise, which will see a drop in investment advisors and support staff at its Protect Direct centre in Bristol.
 
According to the report, the Bristol team sold life and home insurance policies from an office in Baldwin Street.
 
"Due to the gradual decline in the number of customers in our Protection business, this service will now be available over the telephone,” the Bristol Post quoted an RBS spokesperson as saying.
 
"Currently, customers who would like Protection are either referred to one of our Protection Consultants in branches, or to one of our Telephony Protection Consultants. There has been a drop in the number of customers availing of this service in our branches."
 
The report also said that RBS plans to reduce in-branch roles across the South West.
 
"Banking has changed significantly over the last few years and the way people want to interact with us is also changing,” the RBS spokesperson told the Bristol Post.
 
“We have to continually adapt to meet our customers' needs and to ensure we remain viable and relevant both now and in the future.”