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.

Reuters

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.


Updated Date: Jun 26, 2017 11:39 AM

Also Watch

IPL 2018: Royal Challengers Bangalore eye revival against Chennai Super Kings as 'Cauvery Derby' comes back to life
  • Thursday, April 26, 2018 In the Kanjarbhat community, a campaign against 'virginity tests' is slowly gaining ground
  • Tuesday, April 24, 2018 It's A Wrap: Beyond the Clouds stars Ishaan Khatter, Malavika Mohanan in conversation with Parul Sharma
  • Monday, April 9, 2018 48 hours with Huawei P20 Pro: Triple camera offering is set to redefine smartphone imaging
  • Monday, April 16, 2018 Rajyavardhan Singh Rathore interview: Sports can't be anyone's fiefdom, we need an ecosystem to nurture raw talent