LONDON - The Royal Bank of Scotland announced on Thursday that it would eliminate an additional 1,400 job as it continued to reduce operations to bolster profitability.
R.B.S., in which the British government holds an 81 percent stake after providing a multibillion-dollar bailout during the financial crisis, said the layoffs would come from its local retail operations and would be confined to so-called back-office functions.
The bank, which is based in Edinburgh, announced this month that it was moving closer to privatization after reporting a first-quarter net profit of £393 million ($600 million); it posted a £1.5 billion loss in the period a year earlier. R.B.S. said it hoped to start reducing the government’s stake next year.
The firm’s chief executive, Stephen Hester, has eliminated more than 30,000 jobs during the financial crisis as he has attempted to shed assets and focus on profitable operations. As part of the overhaul, the bank has severely curtailed its investment banking unit.
On Thursday, the head of the bank’s British retail division, Ross M. McEwan, said the new round of job cuts would take place over the next two years.
“This is clearly difficult news for our staff,†Mr. McEwan said in a statement, “and we will do everything we can to support them.â€
