Royal Bank of Scotland has redefined the concept of employee loyalty, threatening staff who failed to open a bank account with their employer with disciplinary action. A draft letter from Gordon Pell, RBS chief executive of retail markets, warning staff that all employees “should hold a bank account with an RBS group company for the payment of their salary” has been handed to Amicus, the trade union, which is considering legal action. The letter warns staff that failure to open an account “represents a breach of group policy” and says that if an account is not opened, Mr Pell will write to line managers “asking them to progress this matter according to the group’s disciplinary procedures”. The union said about 14,000 employees had failed to open such accounts.

This entry was posted by Gwen Robinson on Friday, March 23rd, 2007 at 5:13 and is filed under Capital markets. Tagged with rbs. Edit this entry.