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Article: Northern Rock axes 1,300 jobs
- Article from:
- The Northern Echo
- Article date:
- July 31, 2008
- Author:
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Copyright informationCopyright 2008 The Northern Echo. Provided by ProQuest LLC. (Hide copyright information)
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NORTHERN Rock dealt another blow to the region?s economy last
night by announcing 1,300 redundancies ? with unions warning the
final figure could be even higher.
Norwich Union is expected to add to the region?s woes today when
it announces hundreds of jobs are to go in Yo rk.
Of the 1,300 Northern Rock redundancies, 800 will be compulsory,
while 500 will be voluntary. But the union Unite, which
representsmany of the bank?s workers, said Northern Rock was
assuming that a further 600 workers could be redeployed.
Unite official Frank Needham, who has responsibility for Northern
Rock, said that if those workers were not suitable, it would mean
the bank would have to make 1,400 workers ...
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......as the preferred bidder for the company. Northern Rock rose as much 57 percent in London trading...with as much as 55 percent of the company, Northern Rock said. The shares, which initially fell as...company's prospects has been identified," Northern Rock's chairman, Bryan Sanderson, ...
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