Royal Bank of Scotland to lay off up to 700 IT staff

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.

Pete Swabey

Pete Swabey

Pete was Editor of Information Age and head of technology research for Vitesse Media plc from 2005 to 2013, before moving on to be Senior Editor and then Editorial Director at The Economist Intelligence...

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