{"id":5113,"date":"2012-01-12T16:48:10","date_gmt":"2012-01-12T21:48:10","guid":{"rendered":"http:\/\/stateimpact.npr.org\/new-hampshire\/?p=5113"},"modified":"2012-01-12T16:50:36","modified_gmt":"2012-01-12T21:50:36","slug":"citizens-bank-workers-likely-untouched-by-parent-rbs-layoffs","status":"publish","type":"post","link":"https:\/\/stateimpact.npr.org\/new-hampshire\/2012\/01\/12\/citizens-bank-workers-likely-untouched-by-parent-rbs-layoffs\/","title":{"rendered":"Citizens Bank Workers Likely Untouched By Parent Company RBS Layoffs"},"content":{"rendered":"<div id=\"attachment_5114\"  class=\"wp-caption module image right\" style=\"max-width: 300px;\"><a class=\"fancybox\" title=\"\" href=\"http:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/01\/3915510984_01c7bcc146.jpg\" rel=\"\"><img decoding=\"async\" loading=\"lazy\" class=\"size-medium wp-image-5114\" title=\"79 - 83 Colmore Row - RBS - Royal Bank of Scotland\" src=\"http:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/01\/3915510984_01c7bcc146-300x225.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/01\/3915510984_01c7bcc146-300x225.jpg 300w, https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/01\/3915510984_01c7bcc146-220x165.jpg 220w, https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/01\/3915510984_01c7bcc146-138x103.jpg 138w, https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/01\/3915510984_01c7bcc146.jpg 500w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a><p class=\"wp-media-credit\">Elliott Brown \/ Flickr<\/p><p class=\"wp-caption-text\">It seems Citizens Bank employees will be spared mass layoffs as parent company RBS contracts<\/p><\/div>\n<p>The<em> Boston Globe <\/em><a title=\"Citizens Bank parent plans to cut 4,800 jobs, but little if any impact seen locally\" href=\"http:\/\/www.boston.com\/Boston\/businessupdates\/2012\/01\/citizens-bank-parent-plans-cut-jobs-but-little-any-impact-seen-locally\/vwrV0agwtqIonOvA1YYaWK\/index.html\" target=\"_blank\">reports the Royal Bank of Scotland Group plans to cut 4,800 jobs<\/a> in response to &#8220;volatile markets and new regulations in the United Kingdom.&#8221;\u00a0 <a title=\"The Royal Bank Of Scotland\" href=\"http:\/\/www.rbs.co.uk\/\" target=\"_blank\">RBS<\/a> is the parent company of <a title=\"Citizens Bank\" href=\"http:\/\/www.citizensbank.com\/\" target=\"_blank\">Citizens Bank<\/a>.\u00a0 While the report doesn&#8217;t mention New Hampshire specifically, it appears the layoffs will largely be concentrated in Europe:<\/p>\n<blockquote><p>&#8220;RBS spokesman Michael Strachan said the restructing won\u2019t have any direct impact on Citizens, the second largest retail bank in Massachusetts. And since RBS has only limited other operations in the state, the layoffs would likely affect few, if any, local workers.<!--more--><\/p>\n<p>The company said the bulk of the cuts, affecting 3,500 workers will come in its investment bank where it shedding operations. RBS said it plans to sell or close the cash equities, mergers advisory, corporate broking and equity capital markets operations, and is in talks with &#8216;a number of potential buyers&#8217; for the operations.<\/p>\n<p>About a further 1,300 jobs are to be eliminated in other areas, including Ulster Bank and corporate lending, said a person with knowledge of the matter.&#8221;<\/p><\/blockquote>\n<p>The <em>Globe <\/em>reports that RBS is contracting or off-loading unprofitable divisions after a long period\u00a0 of aggressive expansion.\u00a0 Like a number of European banks, RBS is having to retool its business model in the wake of the Eurozone crisis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Boston Globe reports the Royal Bank of Scotland Group plans to cut 4,800 jobs in response to &#8220;volatile markets and new regulations in the United Kingdom.&#8221;\u00a0 RBS is the parent company of Citizens Bank.\u00a0 While the report doesn&#8217;t mention New Hampshire specifically, it appears the layoffs will largely be concentrated in Europe: &#8220;RBS spokesman [&hellip;]<\/p>\n","protected":false},"author":28,"featured_media":5114,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[51],"tags":[505,215,517,83],"acf":[],"_links":{"self":[{"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/posts\/5113"}],"collection":[{"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/comments?post=5113"}],"version-history":[{"count":4,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/posts\/5113\/revisions"}],"predecessor-version":[{"id":5117,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/posts\/5113\/revisions\/5117"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/media\/5114"}],"wp:attachment":[{"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/media?parent=5113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/categories?post=5113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/tags?post=5113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}