News article

"Horror story" job cuts for RBS

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The Royal Bank of Scotland (RBS) is planning on slashing 3,500 jobs, which has been described as a "horror story" by trade union Unite.

The corporation, which is more than 80 per cent government-owned, is making the cuts to its technical and back office divisions in the UK - and it comes after the firm laid off 27,000 workers in the past few years.

Individuals who fear being let go may like to earn extra money by learning how to become a trader, as around 9,000 people were relieved of their positions at the organisation last year.

Some of these cuts are down to RBS selling 318 branches to the Santander group and the bank said in a statement that having to reduce its staff is the most difficult part of its work.

It added: "We continue to make efficiencies across our business and adjust our plans in line with the divestments we have been required to make by the European Union."

Posted by Greg SeckerADNFCR-1681-ID-800049717-ADNFCR