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550 roles to go at NatWest

By John Corser | News | Published:

NatWest plans to cut its staff by about 550 at both its own and Royal Bank of Scotland's branches as well as its premier banking arm.

NatWest is cutting back staff

The company said it had already had sufficient applications for voluntary redundancy so it will not need to make any compulsory redundancies.

Around 550 full-time equivalent roles will be lost across the branches, including in the West Midlands, and its premier banking arm, with branch managers, premier banking managers and personal bankers among those affected.

It is not yet known exactly which branches in the region will be affected.

"We have to respond to changing customer behaviour and the rising customer demand for digital banking services," the bank said in a statement.

"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."

The company also said it is planning to shut down its Regents House office in London, which has enough room for around 2,500 people.

"Our ways of working had been evolving, even before the coronavirus pandemic," it said.

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"We have been reviewing our London property strategy to better reflect how we will work in the future.

"As a result, we will exit Regents House, and will reconfigure our London remaining properties at 250 Bishopsgate and 440 Strand.

"As part of these changes, we will be ensuring our buildings will work better for us in the future, creating spaces where colleagues can come together to collaborate and network, once we're able to do so again."

John Corser

By John Corser
Business Reporter

Express & Star Business Editor at head office, Wolverhampton. Welcomes all news of companies and business organisations.

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