MASSIVE job losses at RBS - Royal Bank of Scotland. Advice here.

News Update · #1 26-02-09, 12:29 PM

Some quarters of the media are predicting upwards of 20000 redundancies at RBS amidst a huge restructure announced today.

£325bn of toxic debt is being transferred into a government backed insured scheme.

"Sweeping changes" are pending but no specifics yet announced.

Staff are worried and angry at the BBC's report that the Bank's 50 year old former Chief Exec Sir Fred Goodwin is already receiving a pension of £650000 per year!

More news on the redundancies as we receive it.

Add your comment
How do you think the management at RBS have handled this situation?
Have they treated their staff fairly? Register to discuss

Free help for RBS employees
If you are concerned about a job at RBS and have a question for the redundancy forum Employment Law & HR experts, ask it here.

annoyed · #2 26-02-09, 01:27 PM

I just heard about Sir Freds Pension on the Radio and I'm fuming. My wife works for RBS, not on some swanky head office, but like the vast majority on the front line.

So Sir Fred oversaw a £24 000 000 000 loss and because of that fantastic service to the company and nation, us the tax payer will pay him £600 000 per year for the rest of his life.

1. How can he morally draw that pension?
2. How can he legally be due that pension?
3. How could the government pump billions into RBS without attaching strings regarding these greedy pigs!?

Our money was given to RBS to save the banking system - correct? By allowing these people to feather their golden nests despite failure on a massive scale, while the rest of the country suffers, our Government has failed us - Heads should roll!!!!!