RBS Chief Executive McEwan Abstains on Wholesale UK Personnel Cuts

[kreslik.news]

The global decline of financial service jobs in the United Kingdom has reached a new tipping point, following last month’s Brexit vote that places the country on a path towards secession with the EU. Big banks, already reeling with diving profit margins and declining revenues were amongst the hardest hit, specifically in markets, as uncertainty is ratcheted up in premier financial centers such as London.

For its part, RBS has been one of the more active players in the personnel scene during the past six months, jettisoning hundreds of workers from the UK. While not on the same level ... (read more)