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RBS could cut up to 18900 jobs

The bank executives are said to consider a 50% reduction in the Investment Banking ...

Article also available in : English | français

According to the Daily Telegraph, the British government would not be willing to keep the bank as it is now due to continuing difficulties in the markets.

Senior bank officials who want to restructure the financial institution under majority control of the state, are currently in discussions about the implementation of major changes in investment banking and business model.

According to a source involved in the discussions, executives of the bank plan to reduce the size of the Global Banking and Markets (GBM) of 50 percent.

They hope to reduce the size of the balance sheet of the GBM division to £ 200 billion, freeing up more capital for RBS, which has a network of 40 million customers around the globe.

For employees, the consequences would amount to 18,900 job cuts.

Next Finance , January 2012

Article also available in : English | français

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