The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64.19 - Other monetary intermediation
130 jobs Number of planned job losses
Announcement Date
12 March 2013
Employment effect (start)
12 March 2013
Foreseen end date
1 January 2015
Description
National Australia Bank (NAB), who own Yorkshire and Clydesdale banks, has announced 130 job cuts as it closes its wealth business in the UK. The job cuts are part of the 1,400 job losses announced by the bank in April 2012 and previously reported (please see here). Trade union Unite has labeled the job cuts cruel as they follow months of training for staff to help them to comply with new legislative requirements which meant that they had hoped that their jobs were safe.
Sources
14 March 2013: BBC Website
Citation
Eurofound (2013), National Australia Bank (NAB), Closure in United Kingdom, factsheet number 75057, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/75057.
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