Unions condemn 'brutal' RBS and Lloyds job cuts

Part-nationalised banks Lloyds and Royal Bank of Scotland (RBS) have announced plans to cut some 1,900 jobs in a move the Unite union called "brutal".

Lloyds will axe 1,600 roles across four divisions as part of what it said were previously-announced plans, while RBS is to lose 300 jobs as part of a "rebuilding" exercise. The Lloyds divisions impacted are: wholesale, insurance, group executive functions and group operations. It said the losses, which will likely be concluded this year, are part of a simplification programme announced in June which will eventually see 15,000 roles axed. Meanwhile RBS, which is 83%-owned by the UK taxpayer, is to cut a net total of 300 jobs. It said a total of 464 roles are impacted by its plans, b...