Plans to cut 2,000 jobs at Northern Rock as part of its restructuring began to go into action yesterday with the start of the formal 90-day consultation period with the union Unite and other employee representatives. Financial Times, Daily Telegraph
Most of the job losses, which will affect all levels of staff, will take place this year. Nearly all of these, a third of the bank’s present 6,000 total, are in north-east England, where Northern Rock is headquartered.
Unite, which had already warned that it would oppose compulsory redundancies, renewed its demand yesterday that all redundancies be voluntary. It demanded that management 'acknowledge their responsibilities' to staff.