Exclusive: RBS staff told not to book Christmas parties in bank's name over credit crunch row fears
Nov 24 2008 By Jack Mathieson
ROYAL Bank of Scotland staff have been told to book Christmas parties in their own names so the business won't be linked to festive frolics.
Bosses fear parties in the bank's name could trigger negative publicity or anger among cash-strapped customers. Shareholders at the RBS voted to accept a £20billion Government bailout at the bank's general meeting last Thursday.
In the run-up to the summit, the bank were criticised for splashing out on glitzy parties while awaiting the massive handout.
The order, which the Record understands was passed from the bank's HQ to branch managers through their regional offices, has angered frontline workers.
Staff from various branches contacted us to say they felt the policy undermined them.
One worker said: "We are all working under immense pressure in an incredibly harsh economic climate.
"We also face real uncertainty about our future job prospects.
"But we are now being told it could damage our employer's reputation if we are seen to be having a beer and enjoying ourselves over the festive season."
Earlier this month, the bank held a champagne reception for 40 executives and partners to recognise "outstanding achievement".
The black-tie ball was transferred from Hampshire to Edinburgh to try to keep it secret and guests were told it would be known as the Kudos event, rather than an RBS function. Kudos is the bank's executive incentive scheme.
Last night, the bank said: "Individual departments and branches are responsible for organising and booking their own events, including Christmas parties."
Source: Exclusive: RBS staff told not to book Christmas parties in bank's name over credit crunch row fears - The Daily Record
I will be going to a bank christmas party paid and 100% funded by the people that are going to attend the event. I will get drunk on my own money, I will eat plenty with my own money and I doubt the press will post a picture of my drunkenness in their paper but rest assured, I will be here afterwards so there will be evidence
Nov 24 2008 By Jack Mathieson
ROYAL Bank of Scotland staff have been told to book Christmas parties in their own names so the business won't be linked to festive frolics.
Bosses fear parties in the bank's name could trigger negative publicity or anger among cash-strapped customers. Shareholders at the RBS voted to accept a £20billion Government bailout at the bank's general meeting last Thursday.
In the run-up to the summit, the bank were criticised for splashing out on glitzy parties while awaiting the massive handout.
The order, which the Record understands was passed from the bank's HQ to branch managers through their regional offices, has angered frontline workers.
Staff from various branches contacted us to say they felt the policy undermined them.
One worker said: "We are all working under immense pressure in an incredibly harsh economic climate.
"We also face real uncertainty about our future job prospects.
"But we are now being told it could damage our employer's reputation if we are seen to be having a beer and enjoying ourselves over the festive season."
Earlier this month, the bank held a champagne reception for 40 executives and partners to recognise "outstanding achievement".
The black-tie ball was transferred from Hampshire to Edinburgh to try to keep it secret and guests were told it would be known as the Kudos event, rather than an RBS function. Kudos is the bank's executive incentive scheme.
Last night, the bank said: "Individual departments and branches are responsible for organising and booking their own events, including Christmas parties."
Source: Exclusive: RBS staff told not to book Christmas parties in bank's name over credit crunch row fears - The Daily Record
I will be going to a bank christmas party paid and 100% funded by the people that are going to attend the event. I will get drunk on my own money, I will eat plenty with my own money and I doubt the press will post a picture of my drunkenness in their paper but rest assured, I will be here afterwards so there will be evidence
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