RBS mulls cuts in finance jobs

RBS is planning a strategic review of its business that could see thousands of jobs cut at its investment bank, many of them in the City. Senior management at the bank are mulling the continuing onslaught of regulation with an eye to paring down its global banking & markets (GBM) division. Chief executive Stephen Hester has talked about plans to “reduce the cost base further” even after the recent announcement that it expects to cut 2,000 jobs in the next year.