The Royal Bank of Scotland (RBS) is axing at least 600 of its 650 jobs in its Dutch branch.
The bank CEO Jan de Ruiter said that the job cuts will be executed in a period of 18 to 26 months and compulsory redundancies may be unavoidable.
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Ruiter added that the lender will now completely exit the Dutch market, and will remain active in risk management as well as currency trading.
Union CN Dienstenbond said that there will be just 10 to 15 jobs at the Amsterdam office by 2018.
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