Disenchanted RBS Employee Writes Public Long Letter About Upcoming Layoffs And Lame Management

An anonymous source from inside RBS wrote a letter to Here is the City this week about some big management shifts inside the bank.It’s long, so we’ll sum up the main points:

  • 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 >

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