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Natwest and RBS to lose 550 staff as it cuts roles across branch network in latest jobs misery

Banking giant Natwest is set to cut around 550 posts as it slashes jobs at its branches and those of the Royal Bank of Scotland.

A spokesperson from the bank said that it was asking for voluntary redundancies and vowed not to force anyone out of the company.

The bank is also set to close its Regents House office in London, which has enough space for 2,500 people.

A NatWest spokesperson said: “We have to respond to changing customer behaviour and the rising customer demand for digital banking services.

“We have taken the decision to invite applications for voluntary redundancy and will support those colleagues who apply with a comprehensive support package.

“There will be no compulsory redundancy as a result of this announcement”.

The bank spokesperson added: “Our ways of working had been evolving, even before the coronavirus pandemic. We have been reviewing our London property strategy to better reflect how we will work in the future.

“As a result, we will exit Regents House, and will reconfigure our London remaining properties at 250 Bishopsgate and 440 Strand.

“As part of these changes we will be ensuring our buildings will work better for us in the future, creating spaces where colleagues can come together to collaborate and network, once we’re able to do so again.”

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