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 - Financial service activities, except insurance and pension funding
400 jobs Number of planned job losses
Announcement Date
18 January 2017
Employment effect (start)
Foreseen end date
Description
The Clydesdale and Yorkshire Bank is reported to be closing 79 of its branches, approximately one-third of its network, in response to changing patterns of customer usage. The decision will affect 400 employees; closures of the Clydesdale branches affect areas across Scotland, whereas closures of the Yorkshire branches affect areas in the north of England. The company has said that the move has been prompted by the trend towards electronic banking and the reduction in face to face transactions in its branches. A spokesperson for the Unite union noted that this would leave certain communities with much reduced choice. There is no information as yet about when the closures will take effect.
Sources
18 January 2017: BBC Website
Citation
Eurofound (2017), Clydesdale and Yorkshire Bank, Internal restructuring in United Kingdom, factsheet number 89805, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/89805.
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