Redundancies at Royal Bank of Canada

Staff claimed on social media that while some employees were expecting to lose their jobs others were only told on Wednesday morning and were ‘walked out’. The posts have since been removed.

Fiona McLean, senior manager of communications for RBC Wealth Managment, said some ‘difficult decisions’ had been made.

In a statement she added: ‘We continue to make changes that focus on the

capabilities that we need now and in the future to meet our clients’ evolving needs.

‘As a result, we have made some difficult decisions and a small number of people are leaving our British Isles Wealth Management business. We will provide support and assistance to those affected by these changes.

‘As we continue to focus on providing exceptional service to our clients, we have also created a number of new roles and promoted talented people internally, and we continue to invest strategically in technology, where it supports our business goals.’

The JEP asked RBC to confirm how many staff in Jersey had lost their jobs.

Ms McLean replied: ‘We have over 1,200 RBC Wealth Management employees in the British Isles, which consists of offices in Jersey, Guernsey, London and Edinburgh. These changes impact a small number, around three per cent, of those employees. Colleagues who have moved into new and expanded roles remain with the organisation.’

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