Virgin Money Restarts Job Cuts and Branch Closures After Coronavirus Pause

British lender Virgin Money will restart a redundancy and branch closure programme that was paused due to the coronavirus crisis, it said on Wednesday, Reuters reported. Virgin Money said it would also press on with rebranding its Clydesdale and Yorkshire Bank branches by January 2021, a plan that was shelved in May. The bank said it would make around 300 redundancies for the time being, 200 fewer than previously planned. It will also close 22 branches and consolidate a further 30, resulting in a total reduction of 52, unchanged from before. Virgin Money announced the planned cuts in February as part of a cost-cutting programme begun following the merger of Virgin Money and Clydesdale and Yorkshire Banking Group in 2018. Read more