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The Royal Bank of Scotland, which is now state-owned after receiving the largest bank bailout in the world in 2008, just cancelled Christmas for its investment bankers, Bloomberg reported.Not only is the Holiday fun gone, but other forms of entertainment are also banned at the bank for the remainder of the year, the news outlet reported citing an internal bank memo.
This is not surprising as a bunch of Wall Street firms have begun axing perks amid massive layoffs and the current economic turmoil.
RBS announced in August that it plans to cut 2,000 jobs.
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