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Royal Bank Of Scotland To Cut 3,500 Jobs

Published January 12, 2012 at 2:00 AM MST

(SOUNDBITE OF MUSIC)

DAVID GREENE, HOST:

NPR's business news starts with more bank layoffs.

RBS, Royal Bank of Scotland, announced today, it's cutting 3,500 jobs over the next three years. That's in addition to more than 30,000 layoffs at RBS that happened over the last two years. In this country, you might know Citizens Bank, RBS runs it. Citizens has branches in about a dozen states. Several branches were closed last year. It is not yet clear how these latest cuts at RBS will affect jobs here in the U.S. Transcript provided by NPR, Copyright NPR.