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Anxious wait for RBS staff

by isleofman.com 26th February 2009
Staff at Royal Bank of Scotland in the Island have an anxious wait to see if their job is secure after the group posted a record UK loss of up to ?24 billion.

RBS, which owns NatWest, Coutts and the Isle of Man Bank, employs around 600 workers here.

Although there's no confirmation from the bank about redundancies, the organisation is to undergo a restructuring of its offshore business.

It's not sure at this stage when an announcement will be made.

Across the whole group there will also be ?325 billion of toxic assets put into a scheme which will offer insurance against any further losses.
Posted by isleofman.com
Thursday 26th, February 2009 04:49pm.

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