RBC branch closure to lead to job losses

Mon, Aug 25th 2014, 11:23 PM

A planned relocation and consolidation of the Paradise Island branch of the Royal Bank of Canada (Bahamas) will lead to staff redundancies, the bank has stated.
The branch will be consolidated with RBC's main branch on Bay Street as part of RBC's strategy to reconfigure its branch network to gain efficiencies within its operations.
"Like all businesses, we constantly evaluate our operations to ensure we continue to match our service capabilities with the needs of our customers," said Nathaniel Beneby, managing director, RBC Royal Bank, The Bahamas, Cayman and Turks and Caicos Islands.
"These decisions are part of RBC's strategy to better serve our clients, while operating more efficiently. We are fully committed to ensuring a smooth, uninterrupted transfer of our customers' bank accounts," Beneby added.
Clients of the Paradise Island branch are being advised by mail and/or in branch signage of the consolidation with RBC's main branch on Bay Street. They have been given the option to have their accounts automatically transferred to RBC's main branch or to transfer their accounts to any of RBC's nine convenient locations in New Providence. For added convenience to clients, an automatic banking machine will remain at the Paradise Island location for an extended period.
Safe deposit box renters will be contacted in due course with information about the relocation of their boxes.
Confirming that the closure of the Paradise Island branch will result in some job redundancies at that location, RBC said in its statement that it is committed to ensuring that all team members affected are "treated with respect, dignity and compassion". The bank said it will work with all impacted employees to find ways in which it can support their careers going forward, whether within RBC or elsewhere.
"We believe this consolidation of the Paradise Island branch with main branch Bay Street, will support the long-term sustainability of our operations in The Bahamas," said Beneby.
The bank declined to comment on how many staff would be affected by the closure.

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