The announcement by the Royal Bank of Scotland that 25 jobs are going due to restructuring continues something of a depressing trend of banking redundancies in Gibraltar, and the Opposition has expressed serious concern on the matter.
The move by RBS comes in the wake of news that Abbey National and Barclays intend to lay off staff as well as announcements by Hispano Commerzbank and Credit Agricole that they intend to leave the jurisdiction completely.
The RBS lay-offs, a result of the takeover of Nat West, have caused something of a political row in the territory, with the Opposition finding the fact the government knew nothing about the job losses "incredible".
The Opposition cite this as further evidence of a longer term decline in Gibraltar's banking sector, and they accuse the government turning a blind eye to the problem.
In June of last year, there were 690 employees registered as employees at banks in the jurisdiction, though by December this figure had reduced to 663. The Opposition predicts that the trend will continue through 2003.
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