Royal Bank to cut jobs in T&T

(Trinidad Express) RBC Royal Bank is looking to merge branches in west and south Trinidad and as a result will be cutting jobs.

The bank confirmed yesterday it has offered affected employees Voluntary Separation of Employment (VSEP) and voluntary early retirement packages.

According to RBC, it will be combining its Chaguaramas branch with its West Mall branch and its branch at Carlton Centre, San Fernando, with the branch on High Street, San Fernando. As a result, the Chaguaramas and Carlton Centre branches will be closed.

RBC said it will also be consolidating part of its operations in Point Lisas to the Couva branch in order ensure that “we maintain an enhanced sales presence in Point Lisas while at the same time effectively serving our clients and key stakeholders in the Couva district”.

“We have developed a comprehensive communications plan to inform our clients about these changes,” the bank stated.

An official of the bank said these changes are expected to come into effect by March this year.

In a statement, the bank said the move was all part of an effort to “transform” the way it serves clients.

“RBC has been on a journey of improvement and transformation in the Caribbean as we leverage technology and innovation to improve our clients’ experience by investing in our channels, products, processes, systems and people, to become the leading bank in the region,” the bank stated. “In the future, RBC will not be defined solely by its physical presence, but rather as an organisation with an accessible multi-channel distribution network that brings us closer to our clients supported by digital innovation, self-serve channels, re-designed branches, a Client Contract Centre and a proactive mobile sales force that can meet clients anywhere and anytime,” it added.

The bank assured that its physical presence here remained a critical part of its transformation strategy and brand.

RBC said its strategy and plans were shared with employees and that it was working with them through the transition.

“We have offered attractive Voluntary Separation and Voluntary Early Retirement programmes to specific groups of impacted employees in Trinidad and Tobago that are designed to help employees make a personal choice about their future,” RBC said.

It did not reveal how many employees will be affected by the changes.

“We are committed to treating our employees with dignity and respect and will work with them through these changes by communicating regularly and directly and supporting them through our Employee Care programme. We respect the privacy and confidentiality of our employees’ information and will not comment publicly on the details of these programmes,” RBC said.

 

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