Metro Bank Plans Cost Reduction Through Job Cuts and Branch Closures

Wednesday, 13 March 2024, 11:07

Metro Bank announced its intention to implement further job cuts and end seven-day branches as part of cost reduction measures. The high street lender aims to achieve another £30m in cuts by the end of 2024 in addition to the planned £50m reduction in annual costs. This strategic move indicates a significant shift in the bank's operational structure.

Metro Bank's Cost Reduction Strategy

Metro Bank is taking crucial steps towards cutting costs and streamlining its operations.

Job Cuts

Metro Bank plans to reduce headcount to save an additional £30m by 2024.

Branch Changes

The bank will end seven-day branches as part of the cost-cutting measures.

This strategic overhaul demonstrates Metro Bank's commitment to enhancing efficiency and financial performance.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.