Around 50 jobs to be lost at RBSI
The company says it is simplifying the way it does business as another Jersey firm announces cuts.
Royal Bank of Scotland International (RBSI) has confirmed that approximately 50 employees across its operations in Guernsey, Jersey, the Isle of Man, and Gibraltar will be made redundant.
The BBC has learned that the majority of these job losses will affect the onboarding team, which is responsible for assisting new retail, corporate, and institutional clients with their account setup.
An RBSI spokesperson stated that the company is "simplifying" its operational structure. "We recently announced changes to simplify how we operate and ensure we remain focused on delivering the best possible service to our customers," the spokesperson added.
In related news, Aztec, another finance firm based in the Channel Islands, has revealed plans to review certain positions as part of an effort to streamline its global operations.
A spokesperson for the Aztec Group commented, "Like many businesses, we continually review how we are organised to ensure we deliver the best outcomes for clients and support the long-term success of the business."
The spokesperson further explained, "As recently communicated to colleagues, we are conducting a limited review of some roles across the Group, amounting to less than 3% of roles globally, to ensure we continue to be well-positioned for growth. Aztec remains a healthy and profitable business and we are committed to handling this process with care, respect and support for our people."