Cancelled! RBS pulls Xmas parties as it cuts back on perks

In an internal memo to staff, seen by the BBC, the division's chief financial officer, Chris Kyle, told staff would not pay for end-of-year entertainment. Additionally, no-one will be given new Blackberry phones, headsets or other telecoms equipment until next year, while staff working late have been told the bank will not pay for taxis to take them home until 10pm. "As we head into the last quarter, there is a current need to further tighten and minimise the rate of spend on non-staff costs," Kyle wrote in the email. RBS is 83% owned by the UK taxpayer after it was bailed out by t...