'Rescued' Bank Reveals Plan to Pay-Off 650 Staff ; As Fears Grow of More Job Losses On Way
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Summary
NORTHERN Rock yesterday revealed plans to axe 650 staff as it is prepared to be sold off to the private sector. The state-owned bank aims to shed 14% of the workforce at two of its centres in the North East by the end of the year.
Last night, there were also growing fears that another high street lender is preparing to reveal major job losses today. Yesterday, Northern Rock's chief executive, Gary Hoffman said the bank now handled a fifth of the mortgage business it enjoyed at its peak.See the full content of this document
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'Rescued' Bank Reveals Plan to Pay-Off 650 Staff ; As Fears Grow of More Job Losses On Way
And he argued that the cuts...
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