RBS: Job losses 'clearly difficult news for our staff'

To serve our customers well we have to ensure that our resources are focused on the things that matter most to them.

That is why we are investing £700 million in the next three years in new and improving services.

Regrettably, we can only do that by restructuring the way we work in head office so that every effort is concentrated on supporting our customers and the frontline staff that serve them.

This is clearly difficult news for our staff and we will do everything we can to support them, including seeking redeployment opportunities wherever possible to ensure compulsory redundancies are a last resort.

– Ross McEwan, chief executive of RBS' UK retail arm

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RBS to cut 1,400 jobs

RBS has told staff that 1,400 of them will lose their jobs over the next two years.