RBS announces Isle of Man job losses

RBS sign Some staff will be able to move jobs but there will be redundancies, CEO Adrian Gill said.

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RBS has announced dozens of job losses in its international division, including nine in the Isle of Man.

The bank said efficiency improvements meant it had to axe 55 posts throughout RBS International, which made operating profits of £221 million in 2013.

Some staff would be able to move jobs but there would be redundancies, CEO Adrian Gill said.

Regional officer for the UNITE union Eric Holmes said the cuts "threaten the Isle of Man's internal economy".

He said: "There are fewer chances of redeployment in the finance sector because so many companies are cutting back.

"That is our concern - if the Isle of Man is to continue its economic success we need to keep people off the benefit system and in well-paid jobs."

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