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London jobs to be lost as RBS wields the axe
28.04.08
The City was today braced for another major round of investment banking job cuts as Royal Bank of Scotland prepared to axe 7000 staff.
NatWest owner RBS is in the process of integrating last year's £57 billion takeover of Dutch banking giant ABN Amro, which is a major City employer. While it is unclear how the cuts will split between London, Amsterdam and New York, several hundred are expected at RBS and ABN Amro in London. The debt trading and corporate lending businesses are set to bear the brunt.
The bank will start telling staff their fate on Wednesday.
