Royal Bank of Scotland is looking to lay off 2,000 employees from its investment banking unit, Financial Times reports. The lender could terminate about 2,000 employees by the end of 2012 from its global banking and markets division.

The job cuts are part of the ‘Change the Bank’ initiative, which was set up to slash inefficiencies across the group. The bank is restructuring its business in response to sluggish markets and tighter regulations across the sector.

Click here for the story from Financial Times.