(Reuters) – Britain’s Royal Bank of Scotland Group Plc will depart its present London headquarters by the top of 2019 in a cost-cutting transfer, it stated on Tuesday.
Many workers will switch from the headquarters at 280 Bishopsgate within the City of London to a different RBS constructing at 250 Bishopsgate, a financial institution assertion stated.
The remaining workers will transfer to different workplaces.
“As we become a simpler, smaller UK-focused bank and as we encourage more flexible ways of working, we no longer require the same amount of office space as we once did,” a company spokesperson stated.
Britain’s Telegraph newspaper reported the transfer earlier, saying RBS’ previous headquarters could be offered in what it stated might be a take a look at of the resilience of the capital’s property market after Britain’s resolution to go away the European Union. (bit.ly/2E3CTy7)
State-backed RBS stated in the direction of the top of final yr it can shut round 1 / 4 of its branches and minimize 680 jobs because it cuts prices and encourages prospects to make use of digital providers, drawing criticism from lawmakers.
Reporting by Kanishka Singh and Emma Rumney; Editing by Adrian Croft