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RBS poised to axe 500 positions

The Royal Bank of Scotland is to axe around 500 jobs.

Most of the losses are expected to be back office roles within the investment banking arm.

The proposed cuts come after the part-nationalised bank announced 3,500 positions would go earlier this month. This followed the division's 9,000 job cuts announced last year.

In a statement, RBS said: "In response to changing market conditions, we have made efficiencies across our business to ensure that we have the right people and resources in place to meet our client needs.

"We will do all we can to support our staff, offer redeployment opportunities wherever possible, and keep compulsory redundancies to an absolute minimum."


From Belfast Telegraph