- Royal Bank of Scotland will next week announce a massive round of new job cuts that will take its staff numbers to their lowest level in more than a decade
- As many as a fifth of RBS’s staff could face redundancy
- Bank’s workforce is currently around 120,000
- The announcement next Thursday is expected as part of chief executive Ross McEwan’s turnaround plan for the lender
- On top of the large-scale job cuts, Mr McEwan could announce RBS’s exit from its Connecticut-based US investment banking business, as well the shutdown of large parts of its remaining Asian investment bank
Best of luck to those employees facing the cuts.
