The Royal Bank of Scotland, devastated by the credit-crunch and now majority-owned by the state, is to lay-off up to 700 IT workers as part of a drastic cost cutting drive.
The bank previously revealed that it is to cut 4,500 jobs in total, in a bid to reduce operational cost by £2.5 billion of the next three years.
The IT cull coincides with a company-wide move to a single technology platform, following RBS’ acquisition of ABN Amro in 2007.
