LONDON (Reuters) – British lender Virgin Money said on Wednesday it will recommence a redundancy and branch closure programme, which had been paused due to the coronavirus crisis.
Virgin Money said it will also press on with rebranding its Clydesdale and Yorkshire Bank branches by January 2021, a plan that had been shelved in May.
The bank said it would make around 300 redundancies for the time being, 200 fewer than previously planned, and close 22 branches, unchanged from before.
Virgin Money originally announced the planned cuts in February, as part of a cost-cutting programme begun following the merger of Virgin Money and Clydesdale and Yorkshire Banking Group in 2018.
(Reporting by Iain Withers, editing by Maiya Keidan)