RBS Cuts 3000 Jobs
The Royal Bank of Scotland (RBS) is to cut about 3,000 jobs in the next few weeks, according to reports this morning.
The positions will go in its global banking and markets workforce, spanning more than 50 countries. Jobs are likely to go in the City of London.
It is understood the bank's High Street operations, and those of subsidiary NatWest, will be unaffected.
RBS, which predicts its first annual loss this year, hopes to raise £20bn as part of the government's bail-out plan.
The bank employs about 170,000 people, of which roughly 100,000 are in the UK.
Earlier this month the group's new chief executive, Stephen Hester, signalled a round of cost cuts in the wake of the bank's rescue package from the Government.
The positions will go in its global banking and markets workforce, spanning more than 50 countries. Jobs are likely to go in the City of London.
It is understood the bank's High Street operations, and those of subsidiary NatWest, will be unaffected.
RBS, which predicts its first annual loss this year, hopes to raise £20bn as part of the government's bail-out plan.
The bank employs about 170,000 people, of which roughly 100,000 are in the UK.
Earlier this month the group's new chief executive, Stephen Hester, signalled a round of cost cuts in the wake of the bank's rescue package from the Government.