Wednesday 22 November 2017

RBS plans to cut up to 2,000 jobs

ROYAL Bank of Scotland has confirmed plans to cull up to 2,000 investment jobs, just hours it revealed the dramatic departure of CEO Stephen Hester.

 

The exact details of the job cuts are still under wraps but the move for further redundancies – which total more than 35,000 since the economic downturn -indicates the bank is still struggling to restore its financial health.

The majority of the job losses from RBS’s investment banking arm are believed to take place across the bank’s international operations, with Asian hubs expected to take the brunt. although it is unclear how many staff will be affected in the UK.

Uncertainty about the future of the institution following Hester’s shock announcement saw shares drop 6pc this morning.

 

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