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CYBG unit Clydesdale Bank intends to cut about 330 jobs

CYBG PLC unit Clydesdale Bank PLC plans to cut about 330 jobs as part of its integration with Virgin Money Holdings (UK) PLC.

The bank said it will close Virgin Money offices in Edinburgh and Norwich by the end of 2019 and October 2020, respectively. It will also shutter its Yorkshire Bank office in Leeds by September 2021.

CYBG took over Virgin Money in a £1.7 billion deal that was completed in October 2018.

CYBG is changing its name to Virgin Money UK PLC by the end of 2019 and expects to receive regulatory approval to do so by October-end.