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Employee relationsEmployment lawIndustrial action / strikesRedundancy

Abbey continuing with 2,000 job cuts despite profit hike

by Nick Golding 30 Jul 2009
by Nick Golding 30 Jul 2009

Abbey is forging ahead with plans to cut nearly 2,000 jobs despite profits climbing by 30%, a decision which is likely to anger unions.

A report on The Mirror website, has claimed that the bank, part of Spain’s Santander, made £790m in the first half of this year, but aims to cut £180m in costs by stamping out duplication after its takeover of Alliance & Leicester and part of Bradford & Bingley.

Abbey also increased its share of the mortgage market to 13.6% in the past six months.

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Nick Golding

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