RBS to cut further 500 jobs

The move comes weeks after the bank said it was cutting 3,500 jobs from its UK technical and back office division, according to the BBC. RBS said it had "made efficiencies" in response "to changing market conditions". An estimated 27,000 job losses have been announced since RBS unveiled its restructuring plan early in 2009 and it is understood 30,000 jobs will eventually go. The bank was told by the European Commission to reduce its number of branches in order to safeguard competition concerns after it was bailed out by the UK government during the financial crisis. RBS reported...