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RBS to cut over 400 jobs, move many of them to India

LONDON: British lender Royal Bank of Scotland (RBS) on Sunday said it was cutting 443 UK jobs dealing with business loans, and plans to shift many of the roles to India. The UK’s largest government-owned bank said it was moving the jobs, which help handle loans for small businesses, as part of an ongoing cost-cutting drive. “As we become a simpler, smaller bank, we are making some changes to the way we serve our customers. Unfortunately, these changes will result in the net reduction of 443 roles in the UK,” a spokesperson for the bank said. The UK government, which granted a 45-billion-pound bailout to RBS in 2008, holds 73% in the bank. Last month also, the bank had announced its decision to cut jobs.

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Source: Hindustan Times

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