U.K. Banks Cut 103,000 Jobs Since 2008, More Reductions to Come
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The U.K.’s five-largest banks including Royal Bank of Scotland Group Plc and Lloyds Banking Group Plc have eliminated more than 103,000 jobs since 2008, with more to come.
That’s about 11 percent of their combined global workforces from the end of 2008 through 2010, according to Bloomberg data based on company filings. At least 34,500 of the cuts were made in Britain.