Royal Bank of Scotland (RBS) is to cut 272 jobs in the UK corporate banking unit as a resut of slowing growth levels.
An RBS spokesman made the announcement, saying that the cuts will be spread across the UK, with managers as well as sales and personnel staff being targeted.
The cuts, which equates to a 2% loss of the total employees at UK corporate banking, add to the 30,000 job losses made since the infamous government bailout in 2008.
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More cuts are expected to be announced tomorrow, sources close to the firm said. Speculation indicates cuts of between 4,000 and 5,000.
NR
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