LONDON Feb 21 Royal Bank of Scotland
will make further cuts to its investment banking activities and
international operations which, alongside other sale plans,
could cut headcount by up to a quarter, sources familiar with
the matter said.
New Chief Executive Ross McEwan will unveil the outcome of
his strategic review of the business alongside the bank's
full-year results next Thursday.
He is expected to say that the bank will focus on lending to
British households and businesses, bowing to pressure from
lawmakers who want it to focus on domestic lending.
RBS, which currently employs 120,000 staff, is expected to
shed between 20,000 and 30,000 jobs as a result of the revamp.
The bank had already announced plans to dispose of it U.S.
business Citizens, which will see 18,500 jobs leave the group
and a sale of 315 branches renamed Williams & Glynn, that will
reduce headcount by 4,500.