MSM: Up to 20,000 jobs will go as RBS chief prepares to sell off unwanted assets

Royal Bank of Scotland will embark this week on a radical plan to split itself in two as it cuts tens of thousands of staff across the globe and confirms the biggest annual loss in British corporate history.

RBS Slaughtered: “Full-Scale Nationalization” Next

Royal Bank of Scotland Group Plc said it may post a loss of as much as 28 billion pounds ($41 billion), the biggest ever reported by a U.K. company, as the credit crisis worsens. The stock slumped as much as 46 percent.