Metro Bank to cut about 800 jobs and review opening hours
by Kalyeena Makortoff Banking correspondent from on (#6GS4B)
Lender to ramp up cost-cutting plans after rescue deal and assess seven-days-a-week branch model
Metro Bank plans to cut about 800 jobs by the end of March, and review its famous seven-days-a-week branch model, after ramping up cost-cutting plans in the wake of last month's multimillion-pound rescue deal.
The lender said plans to cut a fifth of its 4,000-strong workforce followed further evaluation of the cost base", which found it could save up to 50m a year, including by investing in automation and potentially scaling back opening hours for its 76 branches.
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