RBS 'set to shed up to 20,000 jobs'
Updated on 15 February 2009
Royal Bank of Scotland is set to reveal a savage worldwide cost-cutting drive that could lead to the loss of up to 20,000 jobs, it has been reported .
The bank - which is 68% owned by the taxpayer - is understood to be planning the move as it gears up to report losses of up to £28 billion later this month.
According to the Sunday Times, RBS boss Stephen Hester is to draw up a new business plan, which will slash costs by hundreds of millions of pounds and could lead to a further 10,000 to 20,000 job cuts.
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