RBS to shed 3,700 branch staff
Share
RBS will cut 3,700 branch jobs over the next two years as the Government plans to restructure the bank.
According to the BBC, the state-aided bank will have to cut the jobs across its branches, which it hopes to do mainly through voluntary redundancies.
RBS has 170,000 staff, of which 105,000 work in the UK. The BBC says the bank is denying the cuts are linked to the imminent break-up of the bank and says the bank is claiming it is merely overstaffed.
Announcements will be made tomorrow as to the details of RBS’ restructure, as well as that of Lloyds Banking Group.
Chancellor Alistair Darling has revealed the banks will be forced to create new banks using existing assets and staff, before selling them off to the highest bidder. Virgin president Richard Branson has already revealed he is keen to buy up one of these new banks.
If you enjoyed this article, sign up here to receive daily email updates from Money Marketing and Follow @_moneymarketing
