Royal Bank of Scotland Group Plc. (RBS, RBS.L) is planning to cut 2,000 jobs in its Investment Banking unit, after the bank's Chief Executive Stephen Hester announced his resignation following five years of service in it, according to several reports on Thursday.
The reports said the job cuts are part of the bank's plan to scale back its investment arm. The bank will cuts equal 20% of Markets Headcount. The job cuts are expected to be spread worldwide and should be largely made over the next 18 months.
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