Royal Bank of Scotland is cutting up to 9,000 jobs worldwide in areas such as technology and call centres in what is the biggest single job cull at a bank this year.

The bank, which is majority owned by the UK government after being brought to its knees by the credit crunch, has already cut 2,700 jobs from its 106,000 UK workforce this year.

RBS has also slashed about 10,000 jobs in its investment banking division in the past 12 months as part of a programme to reduce its annual costs by £2.5bn in the next three years.

Financial Times