RBS to shut 14 insurance centers in UK
Royal Bank of Scotland (RBS) is set to shut 14 insurance centers, out of 36 across the UK over the next three years.
The part-nationalised bank earlier said that 2,000 jobs would go at its insurance arm, which includes the Direct Line, Green Flag, Churchill and Privilege businesses.
The restructuring of insurance business adopted by RBS is part of European Commission's order to sell 318 branches and divest the insurance business by 2013.
Glasgow call center site with workforce of 640 people, is one of the sites set to be closed. However, some of them are expected to transferred to other roles at the bank, and nearly 400 will be made redundant.
In a statement RBS said that the EU decision requiring the sale of its insurance business has accelerated its plans for cost savings and having to cut jobs is the most difficult part of this process.
At this stage, it is too early to say how many role reductions this will involve, but we will do all we can to support our staff, offer redeployment opportunities where possible and to keep compulsory redundancy to an absolute minimum, the bank said.
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