Bank plan to sell off its assets.Byline: HENRYK ZIENTEK ROYAL Bank of Scotland
The Royal Bank of Scotland Plc (Scottish Gaelic: Banca Rìoghail na h-Alba is to unveil a dramatic restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). in which as set s worth several hundred billion pounds will be put up for sale. This week, RBS's new chief executive Stephen Hester will create a non-core subsidiary into which about pounds 300bn of unwanted assets will be placed. The aim is to isolate the troubled areas of the business into a "bad bank" and allow the stock market to place a value on the remaining core operations. The plan is due to be unveiled on Thursday, at the same time as RBS RBS Royal Bank of Scotland RBS Role Based Security RBS Rollback Segment RBS Rare Book School (University of Virginia) RBS Rural Business Cooperative Service RBS Ribosome Binding Site (genetics) announces Britain's biggest corporate loss of up to pounds 28bn and cost cuts worth around pounds 1bn a year. Mr Hester is not expected to put a figure on the number of subsequent job losses, but reports this weekend said as many as 20,000 jobs could go - equivalent to around 10% of the global workforce. |
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