Yorkshire Building Society

Type
Closure
Country
United Kingdom
Region
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
440 jobs
Number of planned job losses
Job loss
Announcement Date
25 January 2017
Employment effect (start)
1 May 2017
Foreseen end date

Description

Yorkshire Building Society (YBS) has announced that it is to close 48 of its branches and will no longer be offering current accounts. A total of 440 jobs are expected to be affected by this decision. YBS will focus on mortgages and savings accounts and will no longer operate the Norwich and Peterborough brand on the high street. 20 Yorkshire branches are due to close in May 2017, along with 28 Norwich and Peterborough branches starting from September 2017. Following the restructure, the company will have 260 branches remaining.

Sources

  • 25 January 2017: The Guardian

Citation

Eurofound (2017), Yorkshire Building Society, Closure in United Kingdom, factsheet number 90120, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/90120.