Jobs to go at Northern Rock
18 March 2008 17:00
A number of jobs are to be culled at Northern Rock, it has been confirmed.
According to plans announced by the troubled organisation, around 2,000 positions are to be shed by 2011 in action launched as part of the organisation's restructuring, following the nationalisation of the bank on February 22nd 2008.
Originally established in 1965, Northern Rock has its headquarters in Newcastle-upon-Tyne.
"The union will be working to mitigate the implications of the recent crisis on the employees, who have been working tirelessly to ensure there is a sustainable business in the future," said Graham Goddard, deputy general secretary of trade union Unite.
The organisation's recent difficulties related to problems last year, where Northern Rock found itself in difficulties relating to the raising of funds in money markets, leading it to seek support from the Bank of England in September 2007.
According to plans announced by the troubled organisation, around 2,000 positions are to be shed by 2011 in action launched as part of the organisation's restructuring, following the nationalisation of the bank on February 22nd 2008.
Originally established in 1965, Northern Rock has its headquarters in Newcastle-upon-Tyne.
"The union will be working to mitigate the implications of the recent crisis on the employees, who have been working tirelessly to ensure there is a sustainable business in the future," said Graham Goddard, deputy general secretary of trade union Unite.
The organisation's recent difficulties related to problems last year, where Northern Rock found itself in difficulties relating to the raising of funds in money markets, leading it to seek support from the Bank of England in September 2007.
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