RBS Plans to Cut 3,700 Retail Jobs

Royal Bank of Scotland Group PLC said Monday it will cut about 3,700 jobs, or 14% of its retail banking division, as it restructures the business.

"We have 30% more staff carrying out administrative duties per customer than our competitors and they spend less than half their time dealing with customers — we can and must do better," the U.K. bank said in a statement.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER