NatWest International to cut 32 back-office jobs in Gibraltar

NatWest International is cutting 32 back-office jobs in Gibraltar, according to Unite the Union.

The bank says the changes will not affect customer-facing staff or banking services locally.

Staff were told about the changes earlier this week, with the Chief Operating Office understood to be the department most affected.

Unite says 32 Gibraltar employees are affected.

One employee who has been given notice told GBC there are currently no internal vacancies available to them.

In answer to GBC question, a NatWest International spokersperson said: "We are committed to delivering long-term value for our customers and supporting sustainable growth across all our jurisdictions, including Gibraltar. To help us achieve this, we recently announced changes to simplify how we operate and ensure we remain focused on delivering the best possible service to our customers.”

By way of background, the spokesperson provided us with the following information: 

• We are making some operational roles more streamlined with clearer accountability by centralising some teams.
• Centralising these roles means we can benefit from the scale, investment and expertise available to us as part of NatWest Group.
• There are no changes for our customers or the service we offer to them here in Gibraltar. The teams who serve customers locally and the banking services we provide in Gibraltar are not impacted by any changes.
• The changes reflect the evolving nature of the financial services industry to become simpler and more digital.
• Importantly, these changes do not affect our ability to serve customers in Gibraltar. They support our ambition to grow in each of our markets while delivering an even better experience for customers.
• We are supporting all impacted colleagues through the changes and offering alternative roles where possible under ringfencing rules and regulations

NatWest International is part of NatWest Group, with the international bank headquartered in Jersey. Similar job cuts are expected in Jersey and Guernsey.

But Unite says the redeployment opportunities available are across the UK, and local employees do not see them as realistic alternatives.

Unite representative Donovan Correia says the union is supporting affected staff and ensuring the process is carried out properly and in line with employment regulations.

NatWest says the changes will not affect banking services in Gibraltar, and that it remains committed to the local market and community.