Type
Closure
Country
United Kingdom
Region
North West;
Location of affected unit(s)
Isle of Man
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding

140 jobs
Number of planned job losses
Job loss
Announcement Date
18 November 2005
Employment effect (start)
Foreseen end date
31 December 2006

Description

Abbey International have announced plans to phase out jobs on the Isle of Man. The bank will wind down its Manx office in 2006 with the loss of 140 jobs. It said it planned to concentrate its operations in Jersey. Abbey International said the decision had been taken for strategic reasons. The company and the Isle of Man government will help the bank's staff to find other jobs.


Sources

  • 18 November 2005: BBC News

Citation

Eurofound (2005), Abbey, Closure in United Kingdom, factsheet number 62531, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62531.