Aug 12, 2020

Natwest to cut 550 jobs in branches and close one office

Natwest is cutting 550 jobs in branches across the UK and closing one of its remaining offices in London. The trend has accelerated during the coronavirus pandemic as people have stayed away from high streets and used physical branches less. The bank said the cuts had been on the cards before the pandemic, as it had seen a steady decline in branch transactions over the past two years. Covid-19 has accelerated the shift away from people banking in branches, putting pressure on already struggling lenders. Since lockdown restrictions were eased, many branches have reduced their opening hours, while some have remained shut due to staffing issues.

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