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

17.03.2026 11:08 | The Guardian World

Specialist lender’s shares plunge after short seller claims it will have to raise provision for compensation Business live – latest updatesThe 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...

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