Royal Bank of Scotland has increased its target for cutting jobs at its investment banking business to 3,800 by the end of 2013, 300 more than previously anticipated, according to slides released by the bank ahead of an investor presentation.
The bank, which is 82-percent owned by the government, announced in January that it would cut 3,500 jobs in its investment banking division.
Chief Executive Stephen Hester has already axed 34,000 jobs since arriving at RBS in 2008.
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