Co-operative Banking Group

Type
Internal restructuring
Country
United Kingdom
Region
Location of affected unit(s)
Leek, Manchester, Skelmersdale
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64.1 - Monetary intermediation
64.1 - Monetary intermediation
187 jobs
Number of planned job losses
Job loss
Announcement Date
8 March 2012
Employment effect (start)
Foreseen end date

Description

Co-operative Banking Group, a UK-headquartered banking and insurance company, has announced it is to cut 187 jobs. Around 130 will be lost in Leek (Staffordshire), 53 in Manchester, and 4 in Skelmersdale (Lancashire). A timeline for the restructuring is not yet known.

The company is in talks with the trade unions and has said that it hopes to offer staff redeployment.

Sources

  • 8 March 2012: BBC Website

Citation

Eurofound (2012), Co-operative Banking Group, Internal restructuring in United Kingdom, factsheet number 73224, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73224.