Restructuring events
European Restructuring Monitor (ERM)
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.
National Australia Bank is to cut about 1,700 jobs at its two UK operations in a move to save £117m ($220m) a year. The redundancies at the Yorkshire and Clydesdale banks will take place over the next 12 to 18 months. NAB, which employs about 10,300 people in the UK, said the restructuring would make its businesses ‘more nimble and customer focussed'.
It plans to end duplications in administration, with many jobs going at processing units in Glasgow and Leeds.
Leeds-based Yorkshire, which has 232 branches, is expected to see about 950 job losses. About 750 jobs will go at Glasgow-based Clydesdale, which has 217 branches. NAB said the majority of job cuts would not affect the 4,217 staff who deal with customers.
Eurofound (2005), National Australia Bank, Internal restructuring in United Kingdom, factsheet number 61308, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61308.