NatWest presses ahead with more job cuts in face of coronavirus crisis [Reuters]
ROYAL BANK of SCOTLAND (RBS)
US:NYSE Investor Relations:
investors.rbs.com
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Source: Reuters
NatWest presses ahead with more job cuts in face of coronavirus crisis LONDON (Reuters) - British state-backed lender NatWest ( RBS.L ) is pressing ahead with further job cuts, axing more than 30 jobs in its digital ventures arm despite rivals halting redundancies during the coronavirus crisis. A redundancy consultation with staff working for NatWest-owned venture Aptimise - an online tool designed to help accountants - was completed last week resulting in all its staff being laid off, a source familiar with the matter told Reuters. Staff affected have not been furloughed under a government scheme to protect pay even where people have been made redundant, the source added. NatWest is separately pressing ahead with cutting around 130 jobs in its loss-making investment banking unit NatWest Markets. Rivals including Barclays ( BARC.L ) and Standard Chartered ( STAN.L ) have paused redundancies during the virus outbreak. HSBC ( HSBA.L ) has also said it will halt the vast majority
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