UK bank NatWest cuts more than 500 jobs, closes north London office

LONDON (Reuters) - Britain's NatWest is cutting at least 500 jobs across its retail business and closing one of its remaining offices in London as banks press on with cost-cutting in the face of a wave of expected loan losses due to the COVID-19 pandemic.

The state-backed bank is finalising a voluntary redundancy round targeting cutting 550 full-time equivalent roles across its branches and 'premier banking' premium service, union Unite told Reuters. A NatWest spokesman confirmed the redundancy process.

View the article in full here - https://www.msn.com/en-gb/money/other/uk-bank-natwest-cuts-more-than-500-jobs-closes-north-london-office/ar-BB17S0Zl?ocid=spartan-ntp-feeds