RBS set to cut further 4,500 jobs

In addition the firm will cut another 4,500 jobs elsewhere in the world, with most of the cuts taking place in its back office operations. RBS's back office operations employ around 27,000 staff in Britain, meaning today's losses will account for one in five of the division. The affected division, known as Group Manufacturing, is largely based in Edinburgh, though it employs significant numbers of people in other centres, including London, Manchester and Bristol. The cuts form part of RBS's strategy to reduce costs by £2.5bn over the next two years, after a humiliating £24bn loss led ...