RBS will be shutting down more than half of its offices in its Churchill and Direct Line business, as the bank goes ahead with its plan to axe 2,000 jobs, reported The Independent. Globally, the bank plans to cut 23,100 jobs in insurance, with about 17,100 in coming the UK.
The company had previously announced that it would shed jobs at the unit, which includes Churchill and Direct Line businesses, but the acceleration in cuts is new information.
The bank said it would shut down the 14 of its 27 offices in Scotland over the next three years, but some may be closing as early as by the end of this year. Some employees may be transferred to other branches, but many of the impacted staff will be let go.
But there may be a silver lining: the Scottish Finance Secretary John Swinney said that there are jobs available at other companies in Glasgow, due to the recent growth in the finance sector in the city.