Co-operative Bank to cut 350 jobs and close 18 branches – will your branch be closed? | Personal Finance | Finance
The bank has already spoken to affected personal and where possible, they will aim to redeploy staff into alternative posts.
Andrew Bester, Co-operative Bank’s Chief Executive, commented on today’s announcement: “Our people have shown great dedication and commitment to our customers over the past few months, so we are very sorry to announce this news today.
“Unfortunately, we’re not immune to the impact of recent events, with the historically low base rate affecting the income of all banks and a period of prolonged economic uncertainty ahead, which means it’s important we reduce costs and have the right-sized operating model in place for the future
“At the same time, we are responding to the continuing shift of more and more customers choosing to bank online, with lower levels of transactions in branches, a trend which has been increasing for some time, across the banking sector and more broadly.”
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