The Co-operative Bank has announced plans to cut 400 jobs in a major cost-cutting drive. The measures would see the bank shed around one in 10 of its workforce. The bank said: “Today, we have announced a series of changes across the bank which are essential for the delivery of the next phase of the strategic plan. “These include the commencement of a consultation on a proposed operating model restructure which is expected to result in a net reduction of approximately 400 roles (12 per cent) across the bank. “The decision has not been made lightly, and the bank will continue to work closely wit…