Metro Bank Plc announced on Thursday that it intends to reduce its workforce by 20%, which means that approximately 800 employees will lose their jobs.
The bank also revealed that it is considering suspending the opening of its branches for a seven-day period as a step towards achieving its target of saving about £50 million annually, with the aim of protecting its business from collapse.
Earlier, it was reported that Barclays PLC was in talks to acquire a mortgage portfolio from Metro Bank for £3 million as part of the latter company's financial restructuring plan.
