RBS to cut 1470 jobs in retail shake-up

RBS to cut 1470 jobs in retail shake-up

Royal Bank of Scotland is to shed a further 1470 jobs as it restructures its retail support operations.

The bank's head office in Edinburgh will shoulder the burden of the cuts, which come shortly after the partly state-owned bank reported a return to profits.

RBS has already announced more than 35,000 job cuts since it was bailed out following the financial crisis.

Union bosses at Unite described the latest round of job losses as "brutal".

Earlier this year RBS announced plans to spend £700 million on its retail operations between 2013 and 2016 in an effort to improve customer service levels. The bank says the money will be spent on branch refurbishments, faster account opening and simplified mortgage processing.

Ross McEwan, the chief executive of RBS's UK retail operations, says no customer-facing staff will be culled in the latest purge.

"To serve our customers well, we have to ensure that our resources are focused on the things that matter most to them," he says. "Regrettably, we can only do that by restructuring the way we work in head office, so that every effort is concentrated on supporting our customers and the frontline staff that serve them."

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