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£3.5bn losses, but RBS still hands out £421m bonuses
TAXPAYER-BACKED RBS reported losses of £3.5 billion last year but said yesterday it still plans to hand out £421 million in bonuses in a move even its boss admitted was “outrageous.”
Thousands more staff are also set to go at the bank, which announced that it will hack back its investment banking.
Finance union Unite said it was “deeply concerned” at news of the “significant” fresh cuts. The bank has already laid off 30,000 workers since the state took an 80 per cent stake in 2008.
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