|RBS sacks 1,400 employees
US state-rescued Royal Bank of Scotland shed 1,400 more positions, taking the total number of job losses close to 40,000 since its vast state bailout at the height of the global financial crisis.
"RBS has announced plans to restructure its retail head office functions in the UK. The changes will result in 1,400 job losses over the next two years,'' it said in a statement.
A company spokesman told AFP that the latest round of losses took the total job cuts to 38,900 over the past five years.
Unite, Britain's biggest union, attacked the latest cuts as "brutal and irresponsible'' behavior.
However, RBS insisted that the move was aimed at improving customer service.
"To serve our customers well we have to ensure that our resources are focused on the things that matter most to them,'' said Ross McEwan, head of UK Retail. "Regrettably, we can only do that by restructuring the way we work in head office so that every effort is concentrated on supporting our customers and the frontline staff that serve them.''
The British government owns 81 percent of RBS.