Type
Internal restructuring
Country
United Kingdom
Region
Location of affected unit(s)
Leek, Manchester and Skelmersdale
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
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://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73224.