Financial services firm NatWest has announced plans to cut approximately 1,000 jobs as part of an efficiency drive linked to artificial intelligence. For employees facing potential redundancy, understanding your legal rights under England and Wales employment law is an important first step.
What has been announced
- On 30 October 2026, NatWest announced plans to reduce its workforce by approximately 1,000 roles.
- The planned reductions are reported to be part of an efficiency drive driven by artificial intelligence.
- Specific sites and business units affected by the cuts were not stated in the announcement.
About the company
NatWest is a major UK-based financial services provider operating retail, commercial, and private banking services.
What happens next
When an employer proposes 100 or more redundancies at one establishment, collective consultation must take place for at least 45 days before any dismissals take effect. By comparison, proposals involving 20 to 99 redundancies require at least 30 days of consultation.
During the collective consultation period, management must consult with appointed employee representatives or recognised trade unions to explore ways of avoiding dismissals, reducing numbers, and mitigating consequences.
Individual consultation meetings will also follow for staff whose specific roles are placed at risk.
Employees with at least two years of continuous service are entitled to statutory redundancy pay, calculated based on age, weekly pay capped at statutory limits, and length of service.
Voluntary or compulsory redundancy
Employers often open a voluntary redundancy register before selecting staff for compulsory redundancy.
Voluntary packages may offer enhanced terms beyond the statutory minimum, though acceptance is subject to employer approval.
If compulsory redundancies proceed, the employer must apply objective, transparent, and fair selection criteria across identified selection pools.
Your settlement agreement
NatWest may provide departing staff with a settlement agreement, offering a severance payment in exchange for waiving future employment claims.
For a settlement agreement to be legally binding under England and Wales law, you must receive advice from an independent solicitor or qualified legal adviser.
Employers typically contribute towards the legal costs of obtaining this independent advice.
Common questions
How many jobs is NatWest cutting?
NatWest has announced plans to cut approximately 1,000 roles as part of an efficiency drive linked to artificial intelligence.
Which NatWest locations are affected?
The announcement did not state specific office locations or regions affected by the proposed cuts.
What is the consultation period for these redundancies?
Under UK employment law, when an employer proposes 100 or more redundancies, the minimum collective consultation period is 45 days before any dismissals take effect. For 20 to 99 redundancies, the minimum period is 30 days.
Who qualifies for statutory redundancy pay?
To qualify for statutory redundancy pay, you must be an employee with at least two continuous years of service with your employer.
How Deen & Co helps
Deen & Co Solicitors provides independent legal advice to UK employees facing redundancy. We advise on consultation procedures, redundancy entitlements, and the terms of settlement agreements, helping you understand your options clearly.
Read more about settlement agreement advice or work out your statutory redundancy pay.
If your role is in London, our settlement agreement solicitors London can review the package before you sign.
Sources
- NatWest announces 1,000 more jobs cut after AI efficiency drive - Yahoo News UK — Yahoo News UK (30 October 2026)
- NatWest announces 1,000 more jobs cut after AI efficiency drive - The Independent — The Independent (30 October 2026)
Last updated 30 October 2026. This page summarises publicly reported information and is general guidance, not legal advice on your own situation.
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