Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

RBS to axe thousands more jobs in cost-cutting drive

RBS to axe thousands more jobs in cost-cutting drive

Royal  Bank of Scotland is planning to axe thousands more jobs in a cost-cutting move.

According to Sky News, new boss Ross McEwan (pictured) will announce the move when the bank’s results are published in six weeks. RBS’s workforce has already shrunk by around a quarter from its peak of 161,000 at the time of its government bailout in 2008 with over 40,000 having left, been made redundant or departed as a result of the sale of non-core assets.

The bank announced another review of its operations under McEwan, including ‘plans to realign the group’s cost-base’ in its third quarter.  

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Kames' Ennett: Trump good for US high yield, but beware Europe

Kames' Ennett: Trump good for US high yield, but beware Europe

Kames Capital’s head of high yield David Ennett believes the changing political landscape will be a positive for the US, but negative for Europe in 2017.

Play Philip Milburn: why inflation won't run out of control

Philip Milburn: why inflation won't run out of control

Kames bond fund manager views inflation as more of 'scare' than a 'problem' and is positioning his portfolios accordingly.

Play Henderson's Lofthouse on merger boost and political risk

Henderson's Lofthouse on merger boost and political risk

Ben Lofthouse talks through where he is finding income and what surprises await the global economy in the new year.

Read More
Your Business: Cover Star Club

Profile: 'a lot of the hard work is done' says Charles Stanley

Profile: 'a lot of the hard work is done' says Charles Stanley

We’ve turned a corner, and there is positive momentum behind Charles Stanley says Charles Stanley's private client head

Wealth Manager on Twitter