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Royal Bank of Scotland is set to announce major shakeup next week

The Royal Bank of Scotland is set to announce a major shakeup of the business next week with the expected auction of the company's Asian assets and 20,000 job cuts, which represents about 10% of the workforce. While the job cuts had been largely expected, the auction of the companies Asian assets is something of a surprise, although when you consider the substantial debt which has been taken on by the business over the last few months perhaps this is the only course of action?

The company is set to announce an £8 billion loss next week together with the potential write-down of up to £20 billion of assets which will bring about one of the largest overall losses in UK banking history. As everyone is now aware, the business is majority owned by the UK government which has instigated a plan to shrink the balance sheet and reduce the tendency to take on excessive risk which has been prevalent in the past.

The loss of around 20,000 jobs is something of a blow for the UK government which has literally invested billions of pounds into the business only for substantial job losses to be announced. Slowly but surely we are seeing an increase in credit lines to the UK market although this has been hard work and taken some time to formulate.

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