More bad news for those in the finance industry. The latest reports and rumors of layoffs are at HSBC Holdings plc (NYSE:HBC), Royal Bank of Scotland Group plc (NYSE:RBS), Danversbank and CIT Group Inc. (NYSE:CIT).
- The Sun says HSBC will make 1,800 job cuts.
- Royal Bank of Scotland is eliminating 3,700 retail banking jobs, according to eFinancial Careers. There are also rumors that the pressure will force RBS to sell Citizens
Financial Group, according to The Boston Globe.
- Danversbank has cut 15 Beverly National Bank employees and will lay off 22 more in February, according to The Salem News.
- CIT Group filed for Chapter 11 bankruptcy, and its holding company plans to shrink by about 80%. The bankruptcy filing has the New York-based company's 1,000 employees in Livingston, N.J., fearing for their jobs, according to The Star-Ledger.
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Royal Bank of Scotland is eliminating 3,700 retail banking jobs,its a fine plan.