Four biggest banks to have layoffs
Four biggest UK banks – Royal Bank of Scotland (RBS) Group, HSBC Holdings, Lloyds Banking Group and Barclays are facing extensive redundancies due to reduced profits, according to the specialized media.
According to preliminary data, by the end of 2013 the banks management will cut 189 thousand jobs. Thus, the headcount of Britain's four largest financial institutions will be 606 thousand people - record low since 2004.
The banks are forced to resort to these measures in order to maintain profitability amid weak revenue growth.
