Close Brothers banking group to cut 600 jobs amid cost of car finance scandal

2026-03-17 - 09:22

Specialist lender’s shares plunge after short seller claims it will have to raise provision for compensation Business live – latest updates The banking group Close Brothers is to cut about 600 jobs and roll out the use of AI “at pace” after posting further losses in the face of a mounting compensation bill for the motor finance scandal. The specialist lender 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. Continue reading...