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RBS to cut 443 jobs in UK, move many of them to India
June 25, 2017 / 6:28 PM / 4 months ago

RBS to cut 443 jobs in UK, move many of them to India

(Reuters) - British lender Royal Bank of Scotland (RBS.L) is planning to cut 443 jobs dealing with business loans and many of them will move to India, the bank said.

FILE PHOTO: People walk past a Royal Bank of Scotland office in London, Britain, February 6, 2013. REUTERS/Neil Hall/File Photo

The Edinburgh-based bank said the cuts were part of a restructuring aimed at becoming a smaller bank.“We realise this will be difficult news for staff and we will do everything we can to support those affected,” the bank said in a statement. “All roles which require customer contact will remain in the UK.”RBS, which is more than 70 percent state-owned, is in the midst of a major restructuring aimed at returning the bank to profit after almost a decade of straight years of losses.

The bank was rescued with a 46 billion pound state bailout during the 2007-09 financial crisis.

Reporting by Andrew MacAskill in London; Additional reporting by Parikshit Mishra in Bengaluru; Editing by Adrian Croft

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