Royal Bank of Scotland has yet to decide how many jobs it will cut at its investment bank after announcing a major downsizing of the business last week, its CEO Ross McEwan said on earlier this week.
Reuters reports that the Financial Times reported on Tuesday that up to 14,000 of 18,000 jobs at RBS's investment bank could be cut, citing two people familiar with the matter.
'Until we've gone through and worked through the sale or rundown of these businesses, and also had good consultation with our unions and our staff, there is no number', McEwan told Sky News.
However, McEwan acknowledged that the number would be significant and sources familiar with the matter confirmed to Reuters that thousands of jobs would be lost.
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RBS boss says no number set for 'significant' investment bank job cuts
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