RBS to axe 1000's of UK Jobs

Royal Bank of Scotland

RBS Job Losses. Analysts predict that as many as 20,000 UK jobs will be lost at RBS as the axe wields in the wake of yesterdays announcement of the staggering 24 billion pounds loss. The losses are the largest ever posted in corporate history.

The bank has refused to reveal just how many job losses would actually occur, or indeed which parts of the business would be worst hit. Stating that the first people to hear about the job losses will be our staff.

RBS Chief Executive Stephen Hester admitted that reports of the bank cutting 20,000 positions, or more than 10% of the workforce were not unreasonable. Hester said that there would be a 'human cost' to the banks troubles, he added that " it is a sad fact of life, that in a downtown that every company in every country need to cut costs."

Staff Writer: Insurance Jobs Board

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