News

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]

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8 Responses to “Layoffs Watch ’14: RBS”

  1. UBS Downer Quant says:

    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….

    • Squeaky the Mouse says:

      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.

      • Joey Shasta says:

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

        • Squeaky the Mouse says:

          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

          • Revenge of Nerds says:

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

          • Vinnie Boombats says:

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

    • Stamford CRE Broker says:

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

  2. Wideclops says:

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

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