LONDON—Britain’s NatWest is cutting at least 500 jobs across its retail business and closing one of its remaining offices in London as banks press on with cost-cutting in the face of a wave of expected loan losses due to the COVID-19 pandemic.
The state-backed bank is finalising a voluntary redundancy round targeting cutting 550 full-time equivalent roles across its branches and “premier banking” premium service, union Unite told Reuters. A NatWest spokesman confirmed the redundancy process.
