RBS to lose further 4,000 jobs

The RBS is looking to cut a further 4,000 jobs as part of the overall restructuring process, while the head of the Investment sector receives £4 million as part of an earlier bonus programme.

The equities arm of RBS, Hoare Govett, employing 1,200 people is also up for sale, suffering from the diminished business caused by the recession and extreme trading conditions last year, as the bank tries desperately to get back to it's roots as a retail and corporate Bank and in due course allowing the Goverment to exit as a major reluctant shareholder.