T-Mobile is planning significant changes including ending its JUMP! phone leasing program, shifting to a digital-only customer service model, and phasing out LTE over the next two years, amid leadership changes and increasing customer churn due to rising prices and competitive pressures.
Metro Bank, a British lender, has announced plans to cut costs by potentially laying off 20% of its staff and eliminating some customer perks, including seven-day opening hours. The bank aims to save up to £50 million ($63.45 million) annually through this cost reduction plan. Metro Bank's shares rose after the announcement, and the plan is expected to be completed by Q1 2024. The bank also plans to invest in automation, improve digital services, and streamline lending. Three board members will step down at the end of the year, leaving the board with five non-executive and two executive directors. Other UK banks, including Barclays and Lloyds, are also reviewing their staff costs.
Best Buy is replacing its $200 Totaltech membership program with a new version that offers perks such as tech support, waived delivery fees, and exclusive prices at three price points ranging from free to $179.99. The new program aims to appeal to a wider range of customers.