UPDATE 1-RBS planning to cut 900 jobs to reduce costs - sources
(Adds details on cuts)
By Andrew MacAskill
LONDON, June 21 (Reuters) - Royal Bank of Scotland is planning to cut about 900 jobs in Britain, sources familiar with the process said, taking the total number of layoffs in the last four months to around 5 percent of the bank's British workforce.
The latest cuts at RBS are in information technology and back office positions that support the commercial, retail and private bank, the sources said.
RBS, which is 73-percent state-owned, is in the midst of a major restructuring aimed at returning the bank to profit after eight straight years of losses. The Edinburgh-based bank was rescued with a 46 billion-pound ($67.82 billion) state bailout during the 2007-09 financial crisis.
The bank confirmed some staff would lose their jobs but declined to give specific numbers, pointing to its long-stated ambition to shrink from the world's biggest bank by assets into a much leaner, UK-focused commercial and retail bank.
"We understand how difficult this is for our staff and will be offering as much support as we can including redeployment to other roles where possible," the bank said in a statement to Reuters.
Chief Executive Ross McEwan has already cut thousands of jobs partly in response to low interest rates and slowing economic growth which have pushed RBS and several of its UK rivals to take out costs. RBS had 64,000 staff in Britain as of December 2015.
The RBS staff affected by this latest round of redundancies work in cities across Britain, including London, Edinburgh, Manchester and Birmingham. Continuación...