Metro Bank to cut 20% of its workforce


Metro Bank has revealed plans to cut 20% of its workforce and slash its business hours commitments as part of efforts to save it from collapse.

The struggling challenger lender, which announced a £30m cost-cutting plan last month, said it was going further amid wider efforts to shore up its balance sheet.

The bank has about 2.7 million customers and 75 branches in the UK.

This breaking news story is being updated and more details will be published shortly.

Please refresh the page for the fullest version.

You can receive Breaking News alerts on a smartphone or tablet via the Sky News App. You can also follow @SkyNews on X or subscribe to our YouTube channel to keep up with the latest news.

Articles You May Like

Energy price cap to fall but bills to include ‘temporary’ charge to help tackle record debt
Prisoners early release scheme extended indefinitely, leaked documents show
Prisoner swap for Navalny ‘in final stages’ before his death, associate says
Google pauses Gemini AI image generator after it created inaccurate historical pictures
Hundreds of new sanctions slapped on Russia after Alexei Navalny’s death