The RBS is expected to announce details of a major reconstructing programme which could see 30,000 positions being cut over five years.

The programme will see the downsizing of the banks corporate and investment banking arms according to details revealed by the Financial Times. A new strategy is expected to move focus away from U.S. and Asian markets, resulting in the loss of 11,000 jobs from the banks investment division.

The reconstruction strategy coincides with RBS’ move to float parts of the business on the market in order to drive savings.

The announcement is expected to be delivered next week along with the banks full year financial results.

RBS rejects U.S. bid

RBS set aside £450 million for IT maintenance