14 Jan 2012

More job cuts at RBS

10:03 am on 14 January 2012

Royal Bank of Scotland is to cut a further 3500 jobs later this year.

The BBC reports the cuts are part of a reorganisation and shrinkage of its investment bank.

The losses will be split between its British and international offices. They are in addition to 2000 cuts announced earlier.

A further 950 jobs are also to go at Ulster Bank, an Irish subsidiary.

RBS has already shed some 30,000 employees over the last two years, 22,000 of them in Britain.