British lender Royal Bank of Scotland is planning to cut 443 jobs dealing with business loans and many of them will move to India, the bank said.
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.
($1 = 0.7867 pounds) (Reporting by Andrew MacAskill in London; Additional reporting by Parikshit Mishra in Bengaluru; Editing by Adrian Croft)
This story has not been edited by Firstpost staff and is generated by auto-feed.
Updated Date: Jun 26, 2017 00:30 AM