In an attempt to shrink its investment banking unit, The Royal Bank of Scotland (RBS) says it will shed a further 3,500 jobs starting already this year.
This is not the first time the bank has announced a major job cut. In the last two years the bank has laid off 30,000 employees, 22,000 in the UK alone.
"It is a disgrace that while on a daily basis, stories are emerging about the massive bonuses at the top of the bank, increasing numbers of jobs are being cut from amongst the hard working staff," expert David Fleming of the Unite union says.
