In the News

Royal Bank of Scotland / To cut up to 30,000 jobs

The Financial Times and the Daily Telegraph reported Friday that Royal Bank of Scotland would soon announce job cuts of between 20,000 and 30,000. They assumed the lender – owned 80 percent by the taxpayer – would inform the public about its plans while presenting an earnings report next week.

Royal Bank of Scotland

Royal Bank of Scotland (Photo credit: Wikipedia)

The media reports suggested the layoffs would be a result of RBS plans to withdraw from many of its investment banking activities and much of its international business, particularly in Asia.

They added such a drastic reduction of the workforce would dovetail with the strategy of CEO Ross McEwan who had been seeking to revive the fortunes of the partly nationalized lender after being granted a 45-billion-pound ($75-billion, 54.7-billion-euro) government rescue in 2008.

One-off costs a headache

Drastic EU fines for big lenders

“My aspiration is not to run the world’s biggest bank, but to run the best bank in the UK,” McEwan said in a video message posted on the RBS website.

via Royal Bank of Scotland to cut workforce by a quarter, reports say | Business | DW.DE | 21.02.2014.

Discussion

Trackbacks/Pingbacks

  1. Pingback: Deutsche Bank – New layoffs to come | Job Market Monitor - March 19, 2014

  2. Pingback: HSBC – To cut 50,000 jobs | Job Market Monitor - June 10, 2015

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Jobs – Offres d’emploi – US & Canada (Eng. & Fr.)

The Most Popular Job Search Tools

Even More Objectives Statements to customize

Cover Letters – Tools, Tips and Free Cover Letter Templates for Microsoft Office

Follow Job Market Monitor on WordPress.com

Enter your email address to follow this blog and receive notifications of new posts by email.

Follow Job Market Monitor via Twitter

Categories

Archives

%d bloggers like this: