The Co-operative Bank is to cut 350 jobs and close 18 branches across the UK - including one in Greater Manchester.
The bank, which has its headquarters in Balloon Street, Manchester city centre, has said cuts will be made to middle management and head office roles as well as in the affected branches.
Chief executive Andrew Bester said the cuts were being made due to low interest rates during the coronavirus pandemic and more transactions being made online.
Consultations with affected staff have already begun and the bank has issued a list of 18 branches set to close, including one in Ashton.
Mr Bester said: “Our people have shown great dedication and commitment to our customers over the past few months, so we are very sorry to announce this news today.
"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."
The 18 branches set to close by December 1 this year are:
- Ashton
- Bradford
- Cambridge
- Chatham
- Chester
- Chichester
- City of London
- Dartford
- Halesowen
- Harrogate
- Luton
- Oxford
- Rotherham
- Solihull
- Truro
- Wakefield
- Walsall
- York
Co-operative Bank said it had chosen the sites after analysing their footfall over the last 12 months.
Mr Bester added: "The Bank is in a resilient position given the significant progress we’ve made in recent years, and our focus is on maintaining this as we continue to support our customers through the crisis.
"We will do all we can to support colleagues through the process with fairness and respect.”
The Co-operative Bank was unable to say how many roles could be lost at the Manchester headquarters.
