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Royal Bank of Scotland slashes 200 jobs

Royal Bank of Scotland has laid off about 200 employees at its global banking and markets group. The job cuts are in addition to lay-offs that are expected to occur with the integration of ABN Amro.

According to industry sources, global banking and markets group, which accounts for over 30% of Royal Bank of Scotland’s (RBS) profits, employs over 28,000 people.

A spokesman of RBS was quoted as saying: Most global financial institutions are reviewing their business in view of the current market conditions and we’re no exception.