Provider: Zacks Investment Research Inc.
Royal Bank of Scotland Group PLC Starts Shutting Down Branches, To Retrench Nearly 1000 Staff-The Economic Times
The Economic Times reported that British banking major Royal Bank of Scotland Group PLC (RBS) will be laying-off some of 1,000 employees as it winds down retail and commercial business in the country. As part of winding down plans for the R&C (retail & commercial) business here, RBS India has reviewed operating model and this will unfortunately lead to a number of job losses, it said in a statement. It, however, did not specify the number of people who will be laid off. The affected employees are being informed over the coming days and will be treated fairly and in line with RBS policies, the statement said, adding the preferred banking division, frontline sales and some from Van Gogh Preferred Banking will be impacted following this.
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