RBS to slash 3,000 banking jobs - papers

clock

Royal Bank of Scotland (RBS), the struggling bank, is preparing to axe up to 3,000 staff across its worldwide workforce as it braces itself against the onslaught of the global recession, The Times reports.

Up to 1,000 jobs are expected to be lost in the UK, and today's latest spate of cuts brings the total number of bring the total number of British jobs lost this week to above 16,000. Yesterday, BT underscored the arrival of the financial crisis in the real economy as it unveiled plans to cut 10,000 jobs by the end of March, following workforce reductions elsewhere at Virgin Media, Yell and GlaxoSmithKline. RBS will reduce its workforce in its global banking and markets division, with around third of the workforce based in the UK. AMERICA'S TOP HEDGE fund managers staunchly defende...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on uncategorised

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •

Police launch investigation into mortgage middleman fined £1m

West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.

clock 25 June 2013 •