Royal Bank of Scotland to axe 900 more jobs

Royal Bank of Scotland is to cut an additional 900 jobs, having recently unveiled plans to shed hundreds of roles as it scales back its branch network.

RBS is cutting 900 more jobs across the UK. Picture: John Devlin

The state-backed lender has axed about 2,700 posts since March, and it is understood that IT and back-office positions in Edinburgh, Birmingham, London and Manchester will be affected by the latest cutbacks.

RBS said: “We understand how difficult this is for our staff and will be offering as much support as we can including redeployment to other roles where possible.”

In April, the group said it would cut about 600 jobs and close 32 branches, while last month it said a further 200 roles were under threat.

The moves come as the Edinburgh-based bank seeks to slim down from a sprawling international bank to a UK-focused lender.

RBS saw its pre-tax losses swell to £968 million in the first quarter – more than double last year’s figure of £459m. The wider loss reflected the impact of a £1.2 billion payment to the Treasury to buy out a crucial part of its £45bn taxpayer bailout.