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Latest NewsEconomics, government & businessJob creation and losses

Yorkshire and Clydesdale banks face 1,700 job cuts

by Michael Millar 30 Mar 2005
by Michael Millar 30 Mar 2005

Around 1,700 jobs are to go at two major UK banks as part of a wide scale restructuring by their Australian-based owner, it has emerged.

National Australia Bank said the cuts at the Yorkshire and Clydesdale banks – due to take place over the next 12 to 18 months – are necessary to make its UK operation “more nimble and customer-focused”.

The group employs about 10,300 people in the UK in the two banks.

Leeds-based Yorkshire, which has 232 branches, is expected to lose about 950 jobs and about 750 will go at Glasgow-based Clydesdale, which has 217 branches.

It added that some of the job losses will be covered by normal staff turnover and redeployment, with most being in non-customer-facing roles.

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The job lossesare aimed at eliminating duplication in administrative roles, and will contribute to annual savings sought by the bank expected to amount to £117m.

National Australia Bank said the first five months of the process had already seen 400 posts identified.

Michael Millar

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