RBS to cut 3,500 jobs in three-year shake-up - UPDATE

As expected, part nationalised lender Royal Bank of Scotland (RBS) has revealed a massive shake-up to its investment banking and wholesale businesses, including a mass employment reduction of 3,500.

As expected, part nationalised lender Royal Bank of Scotland (RBS) has revealed a massive shake-up to its investment banking and wholesale businesses, including a mass employment reduction of 3,500.

The changes - which include an exit from its cash equities business, corporate broking, equity capital markets and its mergers and acquisitions unit - will start immediately and take up to three years.

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