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RBS Lays off Trading Staff?

The Royal Bank of Scotland (RBS) is laying off around 70 sales, trading and business support staff including two traders on the FX spot desk in London, market sources tell Squawkbox.

A spokesperson for RBS declines to comment on the rumour although the bank did issue a statement on Thursday (20 April) saying: "We keep the structure of our businesses under constant review to ensure that we are well placed to meet the rapidly changing global banking needs of our customers … As a result of our ongoing review changes will be made to a small number of jobs and for those affected we will seek to find alternative suitable employment within the organisation."

The statement adds: "RBS global banking and markets has grown dramatically in the
past five years and now employs over 7,000 people worldwide."

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