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
470 jobs Number of planned job losses
Announcement Date
15 September 2005
Employment effect (start)
Foreseen end date
Description
Birmingham Midshires is to close the majority of its branches and see its name disappear from the High Street. When Halifax bought the chain in 1999 it had 113 branches, of the 67 remaining Birmingham Midshires branches, 48 are to be closed by March 2006 and the other 19 are to rebranded Halifax. The bank insisted that the 470 full and part-time staff affected by the decision would be offered an alternative job either at Birmingham Midshires or at Halifax. However, union officials said they believed a high proportion of those affected may not want the changes and will seek voluntary redundancy. Gwyn Bates, Amicus national officer, said: 'This is devastating news for staff and represents a further reduction in choice for the consumer. The union has worked with the company to ensure there will be no compulsory redundancies.'
Sources
16 September 2005: The Guardian
Citation
Eurofound (2005), Birmingham Midshires, Merger/Acquisition in United Kingdom, factsheet number 62243, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62243.
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