Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of 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 Neil Gregson: gold is prettiest in ugly contest

Neil Gregson: gold is prettiest in ugly contest

The JP Morgan Natural Resource fund manager talks about the prospects for gold with plenty of uncertainty in the global economy.

Brewin's Gutteridge & Foster talk property with Standard Life's Baggaley

Brewin's Gutteridge & Foster talk property with Standard Life's Baggaley

Gutteridge and Foster discuss UK commercial property with Jason Baggaley, manager of the Standard Life Property Income investment trust

Brewin's Gutteridge asks Odey's Tim Bond two tough questions

Brewin's Gutteridge asks Odey's Tim Bond two tough questions

Gutteridge puts the heat on Odey's asset allocation maestro with a couple of tough questions.

Your Business: Cover Star Club

Profile: Creechurch Capital’s CEO on going the extra mile in a crowded market

Profile: Creechurch Capital’s CEO on going the extra mile in a crowded market

Growing a business is the main aim of many company owners but managing that growth in a controlled way is just as important

Wealth Manager on Twitter