Northern Rock to cut 2000 jobs
April 25, 2008
The chief executive of Northern Rock, Ron Sandler is finalizing plans to make redundant 2,000 staff.
Northern Rock are expected to confirm the plans at a 90 day consultation process which starts next week between Northern Rock and Unite, the financial services union.
The loss of jobs will be a large blow for the North East where Northern Rock are based. This means more trouble for Labour in the area and for Chancellor Alistair Darling. Unions have said that such a large number of redundancies in the North East could put a huge strain on the local economy.
Mr Sandler had warned that job losses were necessary to preserve Northern Rock “as a viable financial institution capable of being returned to the private sector”. However the job cuts were expected to be over a three year period.
Local Councils and business groups have put together a task forced named the Northern Rock Response Group, to help find new jobs for staff made redundant.
Northern Rock will put the redundancy plan into action next week when it files a HR1 form with the Government.
www.northernrock.co.uk
Comments
Got something to say?
Advertisement