RBS cutting 196 jobs in Dublin

DCon

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More bad employment news:

Royal Bank of Scotland (RBS), which owns Ulster Bank, has confirmed today that it is to cut 221 jobs on the island of Ireland as part of a major restructuring programme announced last year.

The bank met with 196 technology services staff in its Dublin office and 25 in Belfast earlier today to inform them that they are to be laid off.

RBS said some roles will be transferred to locations where the bank has key back office hubs in the UK and elsewhere.
I assume "elsewhere is India.

RBS to cut 196 jobs in Dublin - The Irish Times - Tue, Jan 19, 2010
 


hammer

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Well Mary Cough announced 20 new jobs today part financed by IDA Ireland.

It will be a crisis when live register hits 600,000
 

Digout

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Once SCAMA is active, the BOI and AIB will be sending thousands to the dole queues.
 

DCon

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Well Mary Cough announced 20 new jobs today part financed by IDA Ireland.

It will be a crisis when live register hits 600,000
She is never to be seen when jobs are cut, for some reason..

Was it 20 jobs or the usual "up to 20 jobs by 20XX"
 

HarshBuzz

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a friend of mine was one of the 196

on the plus side, he hated the job so is relatively sanguine about it!
 

Sync

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Once SCAMA is active, the BOI and AIB will be sending thousands to the dole queues.
Very true. It's also true that the banks are overstaffed, the cuts have been due for a while.
 

hammer

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Hopefully there will be no redundancies in either AIB / BOI.

Let all the Anglo staff go though :)
 
G

Gadjodilo

a friend of mine was one of the 196

on the plus side, he hated the job so is relatively sanguine about it!
I worked there but left in the last two years. The job had become meaningless so I know how he feels.
 

Harmonica

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Sounds like these are back office staff so hopefully they pick up work in other sectors.

The worst thing all the banks can do is sack middle managers so they infect the rest of the economy. I get the impression manager from inside large banks were not familiar with the real world.
 
G

Gadjodilo

Sounds like these are back office staff so hopefully they pick up work in other sectors.

The worst thing all the banks can do is sack middle managers so they infect the rest of the economy. I get the impression manager from inside large banks were not familiar with the real world.
They were mainly IT professionals, software programmers etc. Some might get jobs elsewhere - especially those who are well versed in newer technologies such as C++, Java etc. The ones who've worked mainly with mainframes might find it much harder.
 

dunno

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A good reminder never to take the word of those lying gimps.
 

Boy M5

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Sync

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And if they hadn't pulled out of the IB area then they'd have had to split it off anyway as part of the ring fencing requirements. This is a costly and time consuming project for a struggling bank who's IB isn't really massive in the UK and is operating in countries where IB books are shrinking.

Better out for a bank that's still struggling. It's effectively a shrinking of your core business, so it'll take place over a number of years. The obvious preference would be to sell the book/unit to others (e.g: sell the American section to another bank or investor) which would see the staff transfer as well. It's been happening with other UK banks already.

Or "stuff is bad, this is somehow an indication of QE's success/failure". Whatever people like themselves.
 
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YouKnowWhatIMeanLike

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That's a withdrawal from investment banking (speculating & trading, not lending) in Asia & US - completely non core & unrelated to UK economy.
there is absolutely no question that jobs in the city will be axed if they chop up to 14,000 people.
 

Boy M5

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there is absolutely no question that jobs in the city will be axed if they chop up to 14,000 people.
a) no evidence of this.
b) the jobs that are going are US and Asian investment banking.
c) you cited this as evidence of failure of QE in UK. If you sought evidence of that it would be lending related jobs in UK that would be going.
 

Analyzer

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Hopefully there will be no redundancies in either AIB / BOI.

Let all the Anglo staff go though :)
FG have ensured that Anglo will not face capitalist consequences for capitalist failure.

In fact FG/LP are so "committed" to Ireland's toxic bank, that the gambling debts of the Seanie-Bonders have been lobbed onto the national debt - and the Noonan regards this as wonderful.

FG = FF Plan B.
 

YouKnowWhatIMeanLike

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a) no evidence of this.
b) the jobs that are going are US and Asian investment banking.
c) you cited this as evidence of failure of QE in UK. If you sought evidence of that it would be lending related jobs in UK that would be going.
c.) let me question the sustainability of QE in general. the UK economy doesn't produce anything of value, it has an unhealthy dependency on the financialization industry and an increasing debt. QE was the methadone program, change will now have to happen in the real economy. see job cuts at RBS...
 
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