The Royal Bank of Scotland International (RBSI) is to cut 90 jobs at its offshore centres, including Jersey, Gibraltar, Guernsey and the Isle of Man.
It is not known how many jobs will be lost at each centre, according to the BBC.
Approximately 900 staff are employed at RSBI Jersey, 580 in the Isle of Man and 180 each in Gibraltar and Guernsey.
The bank says it hope jobs will be cut "naturally" as staff opt for voluntary redundancy or retire.
We understand that any reduction in the number of jobs is regrettable and we will support our staff through this difficult time," says Ian Henderson, RBSI chief executive.
"Our aim is to achieve this through natural staff turnover and voluntary redundancy.
"However, in light of more challenging market conditions, it is essential to create a structure that reflects changing customer requirements as well as the need to achieve cost efficiencies."IFAonline
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First mentioned in Cridland Report
Second acquisition of 2019