RBS Will Cut 1,400 Jobs in U.K. Consumer-Division Overhaul
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Royal Bank of Scotland Group Plc, the recipient of the world’s biggest banking bailout, will cut 1,400 head-office jobs in the next two years as part of an overhaul of its consumer unit in the U.K.
RBS will spend 700 million pounds ($1.07 billion) updating its branches and improving its complaints-handling and mortgage processing, the Edinburgh-based company said in a statement today.