300 jobs to go as Virgin Money reboots plans for Clydesdale integration

Virgin Money, clydesdale bank

Clydesdale Bank owner Virgin Money is resuming plans to shut or merge more than 50 branches and axe 300 jobs after pausing the overhaul amid the coronavirus crisis.

The Glasgow-based group, formerly known as CYBG, said the immediate job cuts were 200 fewer than those previously announced due to changes made in response to Covid-19. It will also offer staff affected by branch closures the option to remain with the group until 20 October to help offer support to vulnerable customers.

The lender will restart its shake-up next month, shutting 22 branches and merging 30 more into nearby sites within a half-mile radius, as well as rebranding all Clydesdale Bank and Yorkshire Bank branches under the Virgin Money banner.

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