Internal restructuring
United Kingdom
North East;
Location of affected unit(s)
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding

126 jobs
Number of planned job losses
Job loss
Announcement Date
19 May 2010
Employment effect (start)
Foreseen end date


The mutual Newcastle Building Society has announced plans to cut 126 jobs and close four branches in a bid to cut costs. The cuts will affect back office and management posts while the company said it would try to keep compulsory job losses to a minimum by offering voluntary redundancies and redeployment. Branches to close include West Road in Newcastle, Crook in County Durham, Yarm in Stockton-on-Tees and York.


  • 19 May 2010: BBC News ()


Eurofound (2010), Newcastle Building Society, Internal restructuring in United Kingdom, factsheet number 70763, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/70763.