NatWest set to axe 1,650 more staff

National Westminster Bank currently fighting off a hostile takeover bid from Bank of Scotland has announced plans to axe 1,650 jobs by the end of next year.

National Westminster Bank currently fighting off a hostile takeover bid from Bank of Scotland has announced plans to axe 1,650 jobs by the end of next year.

The cuts are in addition to 10,0000 redundancies the company plans to make within its high street banking business later this year.

The majority of losses will come from its head office where 1,000 staff are to lose their jobs. The remaining 650 are to be axed from the company's corporate banking operations.