UK's Close Brothers to cut 600 jobs by 2027

Group 1 - Close Brothers expects to cut 600 jobs by fiscal 2027 as part of cost-reduction efforts due to rising costs linked to motor finance mis-selling issues [1][2] - The company has faced higher provisions related to the scandal and costs associated with handling customer complaints, which have negatively impacted earnings [2] - Close Brothers reported an interim adjusted operating profit of £65.2 million ($86.65 million), a decrease from £80.5 million in the first half of 2025 [3]