NatWest to cut 500 roles across branches and premier banking

NatWest is set to cut at least 500 roles across branches and its premier banking premium service.

As part of its COVID 19 recovery plan, the bank is inviting applications for voluntary redundancy for up to 550 members of staff in the retail banking division. There will be no compulsory redundancies as part of the programme.

Roles affected by the changes are understood to include branch managers, premier banking managers and personal bankers.

A NatWest spokesman 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."

The programme will also result in the closure of the bank’s London tech hub based in Regents House.

The spokesman added: ”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.”

NatWest has told staff that they can work from home until 2021.

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