--State-backed bank NatWest Group PLC is set to lay off 550 full-time roles and is planning to close an office in London as it pursues cost-cutting measures, according to a report by Reuters.

--Following the bank's expected loan losses due to the pandemic, the job cuts will be done through a round of voluntary redundancy and a spokesperson for the bank said that there will be no compulsory redundancy as a result of the announcement, Reuters reports.

 

Full story: https://reut.rs/3kC9Syv

 

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(END) Dow Jones Newswires

August 12, 2020 09:37 ET (13:37 GMT)

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