NAB to cull 20% of UK jobs

National Australia Bank is to slash jobs in its UK businesses by almost a fifth over the next 18 months to cut costs by A$285m (€169.8m) a year.

NAB, which owns the Clydesdale Bank in Scotland and Yorkshire Bank in England, said on Wednesday that it is to axe 1,700 of its 10,300 UK staff.

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