The Co-operative Bank plans to reduce its branch network by at least 15% by the end of next year.
The bank said it would "significantly enhance" its internet and mobile banking services as a result. The details were unveiled as the bank revealed its rescue plan, worked out over the weekend. The deal will see creditors to the group, led by half-a-dozen hedge funds, end up with 70% of shares in the bank, leaving Co-op Group with 30%. Speaking about possible job cuts, Euan Sutherland, group chief executive, told BBC Radio 5 live: "We do need to take the overall costs down, unfortunately [that] will hit jobs, but we don't have the details today."....Read more here.....Read more here