RBS Unveils £800m Cost Cutting Plans
RBS is set to unveil a £800m cost cutting plan as it reports the ninth consecutive annual loss at the end of the month. The new cost cutting measures are going to be driven by closing of high street branches and cuts in staff numbers. The bank has closed nearly 200 branches in the past two years. Last year, RBS had achieved nearly £700m of savings by the end of the 3rd quarter.
“RBS is set to unveil a £800m cost cutting plan as it reports the ninth consecutive annual loss at the end of the month.”
~ Financial Times
The CEO of RBS is under the spot light as it is expected to report a net attributable loss for shareholders of more than £5 billion last year.
Related Reports: Financial Times
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