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Royal Bank of Scotland (RBS) – To cut 14,000 jobs by 2019

The UK’s state-rescued Royal Bank of Scotland (RBS) is set to cut up to 14,000 jobs in its investment banking units across the United States and Asia by 2019, the Financial Times reported on Wednesday. RBS

The number amounts to 80 percent of the jobs in the RBS’s investment banking sector, which is scheduled to experience a massive restructuring in a bid to turn around the struggling bank’s fortunes, the reported added.

The restructuring plan includes efforts to downsize the bank and concentrate its operations in the UK.

Bank officials said they would end their presence in 25 countries, reducing the bank’s international locations to 13 countries.

Chosen excerpts by Job Market Monitor. Read the whole story at  PressTV-‘UK bank to cut 14,000 jobs by 2019’.

Related Post

Royal Bank of Scotland (RBS) – To slash thousands more jobs

The bank, which has now reported seven straight losses adding up to £49.7bn since its 2008 bail-out, also said it would slash thousands more jobs in a dramatic restructuring of its investment bank, exiting two-thirds of the unit’s geographies and cutting around £70bn of assets. Chosen excerpts by Job Market Monitor. Read the whole story at  RBS … Continue reading 

RBS / To axe 2,000 jobs in investment bank

Royal Bank of Scotland (RBS.L) said on Thursday it would cut jobs in a restructuring of its investment bank, which a source familiar with the matter said would see about 2,000 jobs go. Chosen excerpts by Job Market Monitor via RBS axes 2,000 jobs in shake up of investment bank | Reuters.

RBS / 1,400 Jobs cut in UK

Royal Bank of Scotland Group Plc, the recipient of the world’s biggest banking bailout, will cut 1,400 jobs at its U.K. consumer banking unit in the next two years. The lender will spend 700 million pounds ($1.07 billion) updating its branches and improving its complaints handling and mortgage processing, it said in a statement today. … Continue reading 

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