Royal Bank of Scotland is cutting up to 9,000 jobs worldwide – including 4,500 in the UK – in areas such as technology and call centres in what is the biggest single job cull at a bank this year, the FT reported. The bank, which is majority owned by the UK government after being brought to its knees by the credit crunch, said it expected to make the cuts over the next two years although it believes the actual number of jobs lost will be “significantly” lower than this. RBS also said its latest placing and open offer had been snubbed by investors, meaning the government stake has risen from 58 per cent to 70 per cent.

This entry was posted by Stacy-Marie Ishmael on Wednesday, April 8th, 2009 at 5:03 and is filed under Capital markets. Tagged with rbs, unemployment. Edit this entry.