• 27 May 2014 at 3:34 PM

Layoffs Watch ’14: RBS

The bank is set to relieve a whole bunch of employees of the need to come into the office (ever again).

Royal Bank of Scotland PLC is planning to cut hundreds of jobs in its U.S. trading businesses over the next few months as it seeks to slim down its operations to prepare for tough new U.S. regulations, according to people familiar with the matter. The cuts, which are set to take place over the next 18 months, could result in the loss of up to 400 jobs across the U.S. business, these people said. The bank, 80%-owned by the British government, is scaling back its trading operations at its Stamford, Conn., headquarters as part a wider push to cut costs and refocus on its home U.K. market.

RBS to Cut Hundreds of Jobs in U.S. Trading Businesses [WSJ]

8 comments (hidden to protect delicate sensibilities)
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Comments (8)

  1. Posted by UBS Downer Quant | May 27, 2014 at 3:53 PM

    By 2018 there won't be a wall st left. NYC is going to look very different. Turn out the lights, the party's over….

  2. Posted by Squeaky the Mouse | May 27, 2014 at 3:58 PM

    Linear processing functions are being taken over by computers. Context based work can realistically only be done by humans and it's where you should be looking.

    – Serious, but just this once.

  3. Posted by Joey Shasta | May 27, 2014 at 4:04 PM

    Okkkaaayyy guy. No one knows what the fuck that means. Stock loan for life

  4. Posted by Wideclops | May 27, 2014 at 4:53 PM

    Wait, there actually ARE 400 people left there to layoff?

  5. Posted by Squeaky the Mouse | May 28, 2014 at 10:01 AM

    You dolt, it means computers will never be able to solve a captcha no matter how much porn they can download at once.

    Go back to collecting garbage and leave finance for the smart people

  6. Posted by Revenge of Nerds | May 28, 2014 at 1:18 PM

    "..and leave finance for the smart people ". You mean those, who actually could not make it in Computer Science major?

  7. Posted by Vinnie Boombats | May 28, 2014 at 1:47 PM

    Guy, but will they know how to roll your repo?

  8. Posted by Stamford CRE Broker | May 28, 2014 at 8:00 PM

    You think NYC is going to have a problem???