LONDON, Aug 22 (Reuters) - Britain’s Co-Operative Bank said it expected to make further job cuts having already reduced its staff numbers by 21 percent - or about 1,560 workers - in the past year as it looks to slash costs following a painful restructuring.
“A large proportion of our cost is in people and, consequently, we will continue to see job reductions. There have been one or two redundancy programmes and I believe there will be one or two more in that respect,” Chief Executive Niall Booker told reporters on a conference call.
Britain’s seventh biggest lender came close to collapse last year after a 1.5 billion pound capital shortfall was exposed. It employs 5,860.
Reporting by Matt Scuffham; Editing by Laura Noonan