The Co-operative Bank has announced proposals to reduce around 350 roles, including the closure of 18 branches.

Aside from the specific branches affected, the reduction is expected to focus on middle management positions and head office roles.

The bank stated that it has spoken to affected colleagues and is currently consulting with colleagues and its recognised trades union on the proposals. Where possible, it will look to redeploy colleagues into alternative posts.

Chief executive Andrew Bester said: “Unfortunately, we’re not immune to the impact of recent events, with the historically low base rate affecting the income of all banks and a period of prolonged economic uncertainty ahead, which means it’s important we reduce costs and have the right-sized operating model in place for the future.

“At the same time, we are responding to the continuing shift of more and more customers choosing to bank online, with lower levels of transactions in branches, a trend which has been increasing for some time, across the banking sector and more broadly."

Bester added that the bank is in a "resilient position" given progress made in recent years to improve digital infrastructure.

The planned branch closures, which are expected to be completed by 1 December, have been selected following analysis of individual branch footfall over a 12-month period prior to the start of lockdown.

The 18 branches proposed for closure are: Ashton, Bradford, Cambridge, Chatham, Chester, Chichester, City of London, Dartford, Halesowen, Harrogate, Luton, Oxford, Rotherham, Solihull, Truro, Wakefield, Walsall and York.

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