Metro Bank raises job losses to 1,000 and ends seven-day branch model

Lender nearly triples size of cost-cutting plan to find savings of £80m after autumn rescue deal

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Metro Bank is cutting 1,000 jobs and putting an end to its trademark seven-day branch model, after nearly tripling the size of its cost cutting plan in the wake of its autumn rescue deal.

The lender said on Wednesday that it had expanded an original £30m cost savings plan first announced in October to £50m – after axing about 200 more staff than it had initially aimed for – and now planned to slash a further £30m in costs by the end of the year, bringing its total savings to £80m.