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RBS to cut up to 14,000 jobs in investment banking unit

Wednesday, March 4, 2015 - 07:20
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Royal Bank of Scotland is aiming to cut as many as 14,000 jobs in its investment banking units across the United States and Asia, the Financial Times reported.

[BENGALURU] Royal Bank of Scotland is aiming to cut as many as 14,000 jobs in its investment banking units across the United States and Asia, the Financial Times reported.

Of the total 18,000 people who work for RBS' investment banking unit, it aims to slash as many as four of every five positions by 2019, while overhauling the back-office systems to automate them, the newspaper said, citing two people familiar with the matter.

RBS said last week it will shrink its investment banking operations from 25 countries in Europe, Asia and the Middle East.

RBS could not be reached for comment outside regular business hours.

REUTERS

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