- Over the next few days, a number of IT personnel (within the support areas for its Global Banking & Markets unit) will be provided with a letter informing them that they have been placed at risk of redundancy.
- Job losses will mostly hit personnel who provide IT and operational support to the businesses being run down or divested by the bank following its 2007 merger with ABN AMRO
- Meanwhile, RBS has hired a new batch of management consultants, who will arrive at RBS next week. So will temp or contractor staff who will be given full time jobs.
- The real reason this is happening: an ineffective, expensive program called North Star, a general lack of incisive decision-making, and uninspiring leadership.
One of the reasons for the just-mentioned uninspiring leadership, the writer suggests, is that RBS hires outside upper-management, rather than promoting from within.
“The resulting reporting lines often make no sense to those of us on the inside,” he or she writes.
… And the layoffs just keep coming. Click here to see who else has gotten the axe recently >
Read the full letter by clicking here >