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RBS to axe 600 roles, 32 branches

Royal Bank of Scotland is planning to cut about 600 jobs at its U.K. consumer bank as it looks to close about 32 branches. According to employee union Unite, RBS will cut about 200 positions across London and the South East of England while a further 400 jobs will go in the Midlands, East and the North of the country and will also close about 32 branches as part of the changes. With job losses across the country and surviving branches on reduced hours, there’s no doubt this latest round of cuts will hurt the bank’s customers as well as the employees, the union said. According to RBS, the bank had to ‘adapt’ to meet changing customer demands and to ensure it remains viable in the future. The bank under its CEO Ross McEwan is cutting thousands of jobs and shedding assets around the world as he attempts to resume dividends for the first time since the bank’s 45.5 billion-pound ($64 billion) taxpayer-funded bailout in 2008.  The bank said it is doing everything it can do to support the employees, including seeking redeployment opportunities wherever possible and ensuring that compulsory redundancies are kept to a minimum.

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