RBS Job Cuts: Not likely to be imminent
Nov 20, 2008 | Comments 0
Royal Bank of Scotland (RBS) have said they are unclear at this point of the impact on the intermediary business after it was reported that 3000 global jobs are to be axed.
Last week reports showed that RBS would be announcing within the next 6 weeks up to 3,000 redundancies within the lenders global banking and markets division, although according to the group media relations for RBS, Linda Harper said any announcement on job cuts was “not likely to be imminent”.
RBS will be working towards resizing the operational size of the business in-line with the current market conditions according to Linda Harper.
The British bank posted more than £200 million in bad debt charges and write-downs in the third quarter of 2008, this topped the £12 billion rights issue that the bank filed in June. At this beginning of November Royal Bank of Scotland announced that they will be raising more than £19.7 billion of new capital.
Source: FT
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