Thursday, April 9, 2009

Royal Bank of Scotland cuts 9,000 jobs

Royal Bank of Scotland cuts 9,000 jobs

Anger has erupted after the Royal Bank of Scotland announced plans to cut 9,000 jobs, with half of the losses planned in Britain.

The scale of the part-nationalised lender's latest redundancy programme – under plans to cut 9,000 technology, property, operations and processing jobs worldwide in the next two years – provoked union outrage.

The bank will cut 4,500 of these jobs in Britain in a clear-out of its back-office operations - on top of the 2,700 UK positions lost in the retail and corporate bank earlier this year.

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