Facilities management giant Carillion has quit its support services contract with the Royal Bank of Scotland (RBS) two years early.
The contract, won in 2014 for a five-year period, provided maintenance, repairs and operation services to the RBS estate, estimated at 1.5 million-square metres, including offices, bank branches and cash and coin centres throughout the UK.
Carillion was also in the process of enhancing RBS customer experience by implementing a target-based operating model protecting the bank from operational risk, creating greater flexibility in service delivery and a more efficient use of energy.
However, a spokesperson for Carillion confirmed that the deal had now ended with the company withdrawing from the contract.
“Carillion has jointly agreed with RBS a managed exit from the contract. This has now been carried out on mutually acceptable terms. A number of people have TUPE’d to the new provider as a result of this agreement,” said the spokesperson.
The news comes after a series of positive contract wins for the company, as it looks to bounce back from City expectations of a 35% earnings slump in 2017 and an 11% slide in 2018.