Coutts & Co has started a process of cutting staff numbers as as part of an efficiency drive by its parent, the under fire Royal Bank of Scotland which announced record losses in late February.
Coutts & Co has started a process of cutting staff numbers as as part of an efficiency drive by its parent, the under fire Royal Bank of Scotland which announced record losses in late February.
The move will mainly fall on support staff but a number of private bankers in London and the regions will also be affected, although this will be mainly at a junior level.
A spokesman confirmed that no offices will close down and that private bankers looking after high net worth individuals are unlikely to lose their jobs in the reshaping of the business. This could lead to a reduction of approx 150 jobs from a total workforce of 2,300.
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