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Evening Standard
Evening Standard
National
Holly Williams

Close Brothers to cut almost quarter of workforce in wake of car finance scandal

Close Brothers
Around 600 jobs are being axed at Close Brothers (Alamy/PA) -

Around 600 jobs are being axed at Close Brothers as the banking group ramps up cost cutting after posting further losses in the face of a mounting compensation bill for the motor finance scandal.

The firm said the cuts – nearly a quarter of its 2,600-strong workforce – would be made over the next 18 months across its teams in the UK and Ireland.

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