The Royal Bank of Scotland's Direct Line insurance unit will today tell around 400 staff at its Glasgow offices that their jobs are being axed, according to the BBC.
RBS was told it has to sell off Direct Line by 2013 by the the European competition authorities last year as a condition for joining the UK government's asset protection scheme. It warned in May that the unit and another insurance operation, Churchill, would see around 2000 job losses.
Now, the BBC says staff at Atlantic Quay in Glasgow have been called to a meeting today to be officially told the office will close within three years. This will affect around 640 positions although about 240 staff will be offered the chance to relocate.
The bank is refusing to comment, because it has "a commitment to our staff that we will always tell them first if we are announcing any changes that affect them".
RBS to cut 400 Direct Line insurance jobs in Glasgow - BBC