Finance
UK's Metro Bank plans third round of job cuts, FT reports
Published by Global Banking & Finance Review®
Posted on January 28, 2026
2 min readLast updated: January 28, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 28, 2026
2 min readLast updated: January 28, 2026
Metro Bank is cutting around 100 jobs in its third round of layoffs in recent years, as reported by the Financial Times.
Jan 28 (Reuters) - Britain's Metro Bank has launched the third round of redundancies in as many years, putting about 100 jobs at risk, the Financial Times reported on Wednesday.
Under CEO Dan Frumkin, Metro Bank is looking to turn around its business by moving away from low-margin retail lending and expanding into corporate, commercial, specialist mortgage and SME lending.
"We regularly review our operations as we invest in growth areas, deliver our strategy and enhance our proposition for customers," Metro Bank said in a statement.
The bank has informed 100 staff that their roles will be at risk as it streamlines the company by cutting costs and focusing on businesses that are more likely to boost growth, the FT reported, citing two people familiar with the discussions.
However, a spokesperson from the bank confirmed that the actual number of roles to be impacted will be significantly lesser than a hundred.
The lender, which has over 2,900 employees, reaffirmed its outlook for 2025 and beyond in November, driven by strong lending activity and a boost from its turnaround actions.
In late 2023, it announced it would lay off 20% of its staff and axe some customer perks, including seven-day opening hours.
Shares, which had gained 28% in 2025, were up 0.4% in afternoon trading.
(Reporting by Prerna Bedi and Rishab Shaju in Bengaluru; Editing by Anil D'Silva)
A financial crisis is a situation in which the value of financial institutions or assets drops rapidly, leading to a loss of confidence and potentially resulting in economic instability.
Corporate strategy is the overall plan for a diversified company, outlining how it will create value across its various business units and achieve long-term objectives.
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