Royal Bank of Scotland Tuesday said it is expected to cut between 3,000 and 4,000 investment  banking jobs, the media reports said.

The job cuts are a part of restructuring of the business. According to some sources, the review of part-nationalized RBS’s global banking and markets division may be released on Jan 12.

The sources also opined that RBS may possibly also sell some businesses like Hoare Gavotte and cash equities.

Besides, they also stated that parts of the bank’s global banking and markets will be merged with the payments business called GTS or Global Transaction Services. 

Global Transaction Services is the payments business of RBS having steady revenues and also shares many customers with parts of global banking and markets.

British government owns 83% stake in Royal Bank of Scotland. The British banks have also been asked to reduce the size of global banking and markets further to become less unsafe in the last three years.

The size of the global banking and markets has already been reduced in the last three years. Apart from size reduction of GBM division, the British banks have also been asked to separate their UK retail banking operations to lessen the hazards that taxpayers will need to bail out the industry again.

There are further rumors that RBS may further cut as many as 10,000 of its 18,900 jobs.

The bank is the largest financial services company having strengthened its presence across the globe in 2007 through the purchase of several parts of ABN AMRO, the Dutch bank and other businesses in India. Royal Bank of Scotland also offers consumer and business banking services like risk management, transaction banking, investment banking, private banking and asset management.