Monday 23, February 2009 by Mike Gallagher

RBS expected to unveil restructuring plans this week

Royal Bank of Scotland (RBS) is rumoured to be planning announce a restructuring sometime this week whereby the bank will set up a separate entity to deal with all of the toxic assets on its books. The new unit could gradually come into being sometime between now and 2012, according to reports which also claimed that up to 20,000 jobs could be shed as part of the restructuring which could see the bank shrink by as much as 20 to 25 per cent.

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