Chief executive Dan Frumkin said that as part of the £925million refinancing the bank secured last quarter, it cut both costs and jobs in order to make sure it is more sustainable over the long term. The planned redundancies account for 22% of its total headcount.
However, Frumkin said that Metro has found another £30million of cost savings that it intends to make.
Although he did not specifically mention fresh job cuts or branch closures, he did say that it is reviewing its options around its 76 branches, or stores as it calls them.
He said: "We remain disci- boss Dan plined about reducing cost.
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