RBS slashes 2,300 back-office jobs

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RBS slashes 2,300 back-office jobs

Antony Savvas

Royal Bank of Scotland is cutting 2,300 jobs across its back-office operations in the UK.

The move comes as RBS scales down its business in response to the ongoing financial crisis.

Only last month, RBS axed 3,000 staff across its operations. RBS is expected to announce the largest loss in UK corporate history when it reveals its 2008 results.

RBS UK chief executive Alan Dickinson said, "It is essential that we consistently review our business to ensure that we are able to operate as efficiently as possible, especially in the current economic circumstances."

RBS is currently under pressure about £1bn in bonuses it plans to hand over to "high-performing" staff.

The government holds a 68% stake in the firm after bailing it out with £20bn of taxpayers' cash.


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