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.

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