Layoffs hit Citizens Bank in RI, state’s No. 2 corporate employer

November 17th, 2011 at 1:23 pm by under Nesi's Notes

Citizens Financial Group has laid off an unknown number of employees across 12 states including Rhode Island, a bank spokeswoman tells WPRI 12. The bank is Rhode Island’s second-biggest corporate employer, behind only CVS Caremark, and its seventh-largest non-governmnet employer, according to the EDC.

Citizens is owned by the Royal Bank of Scotland, which remains 84% owned by the British government after it required a bailout to stay afloat amid the 2008 financial crisis.

• Related: Analysts: RI exports face ‘low risk’ from European recession (Nov. 15)

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4 Responses to “Layoffs hit Citizens Bank in RI, state’s No. 2 corporate employer”

  1. Larry says:

    Who is the number one corporate employer???

  2. USA369 says:

    This come as no surprise as it’s been part of their plan since layoffs first announced in 2009. Projo reported then “Citizens spokesman Michael Jones said the layoffs are part of a job reduction announced in April by the Royal Bank of Scotland, Citizens’ parent company. The Royal Bank of Scotland said it planned to eliminate 9,000 jobs world-wide over a two-year period, 1,250 of them at Citizens Financial Group in the U.S.”

    What is a surprise is that since then, the media has yet to report that Citizens Bank has been outsourcing jobs to India from that time. Indian workers have come here for training, and supervisors here have been sent to India to train workers. But they’ve been smart enough not to outsource their customer support so that customers won’t find out. Businesses should be punished for displacing American jobs overseas!!! And the media should be reporting the poor practices of this bank!

    1. teddy says:

      That’s right, USA369, I heard about that, too! CFG actually flies in poeple from india, about 80 at a time, put them up at hotels, they get shuttled and/or taxied back and forth to work every day! They get trained and they lay off Americans! They even have the nerve to make the people they are laying off train them before they cut them loose!

      Doesn’t sound like good Citizenship to me!

      Citizens Bank & CVS are the bane of RI society. I don’t patronize those companies…