LayoffBlog.com

April 7, 2009

Royal Bank of Scotland Plans Up to 9,000 Job Cuts

The Royal Bank of Scotland said on Tuesday it might cut as many as 9,000 jobs worldwide as the troubled British bank, which is majority-owned by the government, seeks to reduce costs and repay government funds.

The job cuts would affect back office operations and would come in addition to the 2,700 already announced in Britain for this year. The bank said the actual number of layoffs would be lower than 9,000 because “natural turnover” and “less use of agency staff” would further help to limit redundancies. In addition, the bank said it already identified 650 new job opportunities in Britain.

Source: The New York Times

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