RBS' small bank bid: To slash hundreds of jobs in UK, move them to India

RBS is in the midst of a major restructuring aimed at returning the bank to profit after almost a decade of straight years of losses

Reuters June 26, 2017 11:30:30 IST
RBS' small bank bid: To slash hundreds of jobs in UK, move them to India

British lender Royal Bank of Scotland (RBS) is planning to cut 443 jobs dealing with business loans and many of them will move to India, the bank said.

RBS small bank bid To slash hundreds of jobs in UK move them to India

Reuters

The Edinburgh-based bank said the cuts were part of a restructuring aimed at becoming a smaller bank."We realise this will be difficult news for staff and we will do everything we can to support those affected," the bank said in a statement. "All roles which require customer contact will remain in the UK."

RBS, which is more than 70 percent state-owned, is in the midst of a major restructuring aimed at returning the bank to profit after almost a decade of straight years of losses.

The bank was rescued with a 46 billion-pound ($58.48 billion) state bailout during the 2007-09 financial crisis.

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