RBS may cut two-thirds of investment bank jobs

San Francisco

ROYAL Bank of Scotland Group plc may cut as many as 14,000 investment banking jobs, or more than two- thirds of the workforce, as part of a plan to focus on the UK consumer market, a person with knowledge of the matter has said. The bank hasn't finalised the plans, said the person who asked not to be named because the details are private.

The Edinburgh-based firm's corporate and institutional bank, housing most of the securities activities, employs 16,000 to 18,000 people, out of a workforce of more than 108,000.