"Royal Bank of Scotland.... less talk, more action."
Whack, whack, like Lizzie Borden!
"Royal Bank to cut up to 9,000 jobs; Citizens unit says it will trim 5% of its workforce" by Globe Staff And Wire Services | April 8, 2009
Royal Bank of Scotland Group, the biggest bank controlled by the British Treasury, plans to eliminate as many as 9,000 more jobs worldwide as it seeks to repay a government bailout. The cuts, about 5 percent of RBS's global workforce, include 4,500 jobs in Britain. The actual number of positions lost may be significantly lower because of efforts to shift employees into new positions, Edinburgh-based RBS said in a statement.
Royal Bank owns Citizens Financial Group in Providence, which operates the Citizens Bank brand. Citizens Bank has a large presence in Massachusetts. A spokesman for Citizens said it plans to cut its workforce of 24,000 by 5 percent, or 1,250 positions, over the next two years. Citizens has a retail presence in 12 states. The Citizens spokesman said it has not been determined how cuts will affect individual states.
RBS may eliminate more jobs as it seeks to cut costs by $3.7 billion, or 14 percent, over three years and return the bank to investor control. Yesterday's announcement came as the British government increased its stake in RBS to 70 percent....
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Something about the number, 'eh (like $750 billion for some reason; they also like that one)?
See: UBS to cut nearly 9000 more jobs
