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RBS to slash 3,000 jobs worldwide: report

RBS to slash 3,000 jobs worldwide: report
AFP
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First Published: Fri, Nov 14 2008. 08 32 AM IST
Updated: Fri, Nov 14 2008. 08 32 AM IST
London: Royal Bank of Scotland (RBS) is planning to cut about 3,000 jobs worldwide in the next few weeks, the BBC reported on Friday.
The British broadcaster said the jobs would go in the bank’s global banking and markets workforce, which is spread over 50 countries. Its high street operations would likely be unaffected.
RBS has been hard hit by the global credit crisis, and is one of three high-street banks that had to be bailed out by the government last month.
A spokeswoman for RBS declined to comment in detail on the news, but said: “We constantly review our operating model to make sure that it is appropriate to the market condition, and take action accordingly.”
RBS has about 170,000 staff worldwide, of which about 100,000 are in Britain.
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First Published: Fri, Nov 14 2008. 08 32 AM IST
More Topics: Finance | Economy | Britain | Recession | Market Crisis |