RBS set to cut 3,700 jobs across UK
RBS set to cut 3,700 jobs across UK
Also In The News
|
By James Christie
Serena Williams justified her status as world number one by defeating defending champion Venus Williams 6-2, 7-6 (7-3) in the final of the end-of-season WTA Tour Championships in Doha. |  |
Monday, 02, Nov 2009 05:39
Royal Bank of Scotland (RBS) has announced it will cut 3,700 jobs across the UK in the next two years, ahead of a major announcement on its future expected tomorrow.
The bank said it hoped many of those losing their jobs would take voluntary redundancy, citing cutting costs as the reason for the job losses.
RBS added the move was unconnected to tomorrow's announcements about the selling off of many of its constituent parts, along with Lloyds, from the government.
Some 10,000 job cuts in the bank's investment banking and office activities had already been announced, as well as 6,000 redundancies overseas.
Today's redundancies amount to about 14 per cent of the total workforce at NatWest and RBS branches.
Staff were informed of the redundancies this afternoon, and the bank is believed to have been in discussions with Unite, the union.