With this move, Blomfield takes part in the process of clearing the path for the new CEO TS Anil and moving into the role of President.

Last week, we reported on Revolut forcing some staff to leave their jobs without severance - citing underperformance or making them quit on their own accord for just a slice of severance. Since Revolut has not really addressed the issue publically so far, let's take a look at how has the CEO addressed it in messages he sent to his employees.

Some Revolut staff members claim that they have been pressured into leaving their jobs and taking salary cuts as the company applied cost-saving measures.

Monzo, the U.K. challenger bank, will cut up to 120 jobs as a result of the coronavirus pandemic.

The digital bank unicorn Revolut has announced to lay-off 60 of its employees as it admits the COVID-19 has some negative impact already.

N26 had a team of 90 employees working in their New York offices. Now it lets 9 of them go.

London and Tallinn-based startup Monese is set to make staffing cuts and lower its ambitions for a funding round.

This comes just month after the Revoluts CFO David MacLean stepped down (among others).

The coronavirus crisis has already made senior executives from Monzo, Lloyds and Revolut to slice down their own personal income.

Financial Times reported on Wednesday, that HSBC Holdings PLC's restructuring could be delayed due to the Covid-19 outbreak.

Barclays has announced a major staff shake-up affecting more than 1,000 workers including the closure of a site in Leeds. The bank is also set to put a further 340 staff on notice for job cuts or relocation across the country, pushing the total jobs affected to 1,140.

HSBC is to shut 27 branches this year putting almost 50 jobs at risk. The bank, which announced last week it would cut 35,000 jobs around the world, including “meaningful” reductions in the UK, said it would invest almost £34m in its remaining network of 594 branches, 49 of which are to be refurbished this year.

UniCredit SpA’s announced to eliminate around 8,000 jobs. This is pushing cuts announced by banks this year past 75,000 with most of them in Europe (due to negative interest rates and a slowing economy).