Metro Bank to cut 20% of workers in rescue plan

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Metro Bank is to cut 20% of its staff as it seeks to make £50m in cost cuts, the lender has announced.

This week, shareholders voted to back a rescue deal aimed at securing the bank's future.

The lender has faced a number of challenges in recent years after an accounting scandal in 2019.

The bank had been struggling to be profitable and in October, reports emerged that it wanted to raise money and refinance some of its debts.

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