Royal Bank of Scotland announces further 1,400 retail banking job cuts in Scotland, England

LONDON – Royal Bank of Scotland says it is cutting 1,400 jobs from its retail banking operations over the next two years.

The bank says the latest round of cuts affects support staff. Around half of those affected are based in Edinburgh, and most of the rest are in London.

The bank has already slashed thousands of jobs since it was rescued by the British government in 2008 during the financial crisis.

RBS, which is 81 per cent owned by the British taxpayer, said Thursday the cuts are part of an ongoing effort to restructure operations. It said it is focusing resources on branch refurbishments and investment in mobile and online services.