The losses, which will be split between the bank’s UK and non-UK locations, come on top of 2,000 cuts revealed earlier in the second half of 2011.
The bank is also planning to close or sell cash equities, corporate broking, equity capital markets, and mergers and acquisitions businesses.
In addition, GBM’s corporate banking business will combine with the international businesses of our Global Transaction Services arm into a new International Banking unit.
RBS CEO Stephen Hester said they have reduced their balance sheet by some £600 billion and have rebuilt capital ratios.
"Our core Retail and Commercial businesses outside Ireland now operate with an attractive return on equity overall. Our investment bank has produced an average return on equity of 19% and delivered over £10 billion in profits since 2009," added Hester.
