Pounds 800m the Cost to the North East of the Rock Fiasco ; Region Will Be Paying a High Price for Years

Summary

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THE full impact on the region of the near collapse of Northern Rock can finally be revealed today.

Experts looking at the bank's fall and rise and its impact across the region show nearly pounds 800m wiped of the North East economy. More than 2,600 jobs went, both at Northern Rock and elsewhere, a detailed report commissioned by development agency One North East has revealed.

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Extract

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Pounds 800m the Cost to the North East of the Rock Fiasco ; Region Will Be Paying a High Price for Years

In total, 1,288 Northern Rock employees were made redundant, nearly two thirds of whom were made compulsorily redundant.

The previously unreleased report also reveals that more than 200 worke...

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