RBS to cut 1,400 jobs

The Royal Bank of Scotland (RBS) has announced it is to cut a further 1,400 roles across the country as part of a restructure of its support staff teams.

The bank, which is part-owned by the UK government via UK Financial Investments, said the roles will be cut predominantly from head offices in London and Edinburgh as part of a restructure of the company's support functions. It is the latest bank to announce a fresh round of cuts after HSBC yesterday warned 14,000 roles could go across the whole business by 2016. RBS has already cut its staff numbers back substantially since the financial crisis.