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RBS' move to export jobs in India causes outrage in England


March 7, 2012 - London

The Royal Bank of Scotland (RBS), which is a taxpayer-subsidized bank, is under fire for moving hundreds of jobs from Britain to India.

RBS, which is 82 percent owned by the public, has made it known that 215 posts would be cut down from its finance section in Edinburgh.

Although, union leaders and several Members of Parliament have claimed that the figure was nearer 300 and accused that the cuts were being made to transfer the work to India.

This news erupted when Immigration Minister Damian Green warned that too many British businesses were 'addicted' to overseas labor. But Chancellor George Osborne persisted the government could not interfere and prevent RBS jobs moving to India.

"As we work to rebuild RBS we continue to streamline our business to ensure that we remain competitive. We have embarked upon a three-year transformation programme across our finance division, which will increase efficiency and allow us to serve our customers better," The Daily Express quoted a statement from the bank.

"Having to cut jobs is the most difficult part of our work to rebuild RBS. We will do all we can to support our staff, offer redeployment opportunities where possible and to keep compulsory redundancies to an absolute minimum," the statement added.

David Fleming, Unite national officer, claimed that 300 jobs were being cut, and 200 'shipped' to India, describing the news as 'outrageous'.

ANI

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