Lender nearly triples size of cost-cutting plan to £80m after autumn rescue deal
Business live – latest updates
Metro Bank is cutting 1,000 jobs and ending its trademark seven-day branch model, after nearly tripling the size of its cost-cutting plan after its autumn rescue deal.
The lender said on Wednesday that it had expanded an original £30m cost savings plan, first announced in October, to £50m – after axing about 200 more staff than it had initially aimed for – and now planned to slash a further £30m in costs by the end of the year, bringing its total savings to £80m.
Continue reading…Lender nearly triples size of cost-cutting plan to £80m after autumn rescue dealBusiness live – latest updatesMetro Bank is cutting 1,000 jobs and ending its trademark seven-day branch model, after nearly tripling the size of its cost-cutting plan after its autumn rescue deal.The lender said on Wednesday that it had expanded an original £30m cost savings plan, first announced in October, to £50m – after axing about 200 more staff than it had initially aimed for – and now planned to slash a further £30m in costs by the end of the year, bringing its total savings to £80m. Continue reading…