RBS to cut service jobs as it narrows its focus in the UK

The bank is said to plan 450 jobs cuts

30th May, 2016
RBS plans to become a smaller UK-focused bank

Chief executive Ross McEwan is cutting thousands of jobs and shedding assets around the world as he attempts to resume dividends for the first time since the bank’s £45.5 billion (€59.8 billion) taxpayer-funded bailout in 2008. Low interest rates and slowing economic growth are pushing him and other bank executives to take out more costs to maintain profitability.

The job cuts were reported earlier on Sunday by the Financial Times.

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