even more job cuts
http://latestnews.virginmedia.com/ne...0_banking_jobs
Britain is facing more jobs misery over plans by Royal Bank of Scotland to axe about 3,000 staff.
The bank, which is in line for a £20 billion taxpayer handout to help shore up its finances, is understood to be cutting the posts from its global banking and markets workforce over the coming weeks.
The bank's workforce is spread across 50 countries, with a major base in the City of London, and has been the area of the group hardest hit by the credit crunch.
A spokeswoman for RBS declined to comment in detail about the job cuts.
But she said: "We constantly review our operating model to make sure that it is appropriate to the market condition, and take action accordingly."
RBS has about 170,000 staff in total, of which about 100,000 are in the UK.
Earlier this month the group's new chief executive, Stephen Hester, signalled a round of cost cuts in the wake of the bank's rescue package from the Government. "Costs are one of the things we need to look at," he said.
Thursday saw more than 10,000 job losses announced by some of the UK's biggest companies, as evidence mounted that the economic downturn was tightening its grip on the jobs market.
BT said it was axing 10,000 posts and financial services group Friends Provident said it was shedding 280 jobs.