Skip to main content



) --

Royal Bank of Scotland Group

(RBS) - Get Royal Bank of Scotland Group Plc Report

is cutting 2,000 jobs in its insurance division as part of a restructuring.

RBS needs to sell its insurance business by the end of 2013 as part of its bailout agreement with the European Union. RBS will close 14 of the 27 Churchill and Direct Line insurance offices in the UK within the next three years. RBS' insurance division employs a total of 16,000 people.

A report by

The Wall Street Journal

says that the insurer

plans to shut down its Direct Line Insurance branches in Glasgow that employs 640 people. A call center in Cardiff

Scroll to Continue

TheStreet Recommends

will also close by 2010

, according to

Wales Online


An office in Manchester, employing 60 staff

will also shut down

, according to

The Manchester Evening News



Written by Maria Woehr in New York