Union anger as cost-cutting RBS axes 500 jobs

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RBS, beneficiary of a multi-billion pound bailout that saw the taxpayer take a majority stake, is looking to cut costs.

The jobs are going primarily from Coutts, the Queen's bank.

Unite national officer Rob MacGregor said: "The decision to cut 500 staff over a three-year period from the highly profitable wealth division and in particular Coutts & Co, RBS Coutts and Adam & Company will bring much anxiety to the staff in these areas of the business.

"Unite does not believe that the introduction of, and investment in new technology should go hand-in-hand with the shedding of jobs."