Rescue plan for Co-op bank will see hundreds of jobs lost

The beleaguered bank's parent - the Co-op group -  also plans to announce a cost-cutting plan alongside further details of the restructuring in the autumn. While no figures have yet been decided, any serious reduction of costs would be certain to lead to many hundreds of job losses among Co-op Bank's 10,300 workers, according to the The Times. With the bank planning to slim down to a pure retail play serving only personal customers and small firms, the scope to take the axe to its corporate banking division, is considerable. The crackdown on the bank's annual expenses of £600m come...