Banking giant to cut 600 jobs in scramble to slash costs by £85million

Close-up of a hand holding a credit card over a contactless card machine.
KYXN9K Close up of a credit card being used to make a payment on a contactless card machineCredit: Alamy

BANKING group Close Brothers said it is cutting about 600 jobs in the UK and Ireland over the next 18 months.

The move comes as it looks to reduce its annual costs by about £85million.

The entrance to the Close Brothers head office at 10 Crown Place in London.
Close Brothers is to cut around 600 jobs in the UK and Ireland in a cost-cutting driveCredit: Alamy

The banking giant is one of the lenders involved in the car finance scandal.

It had set aside £300million to cover compensation claims by drivers who were mis-sold car finance.

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