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
500 jobs Number of planned job creations
Announcement Date
7 September 2007
Employment effect (start)
7 September 2007
Foreseen end date
7 September 2012
Description
Newcastle Building Society, a firm engaged in financial services activities, has announced that it is to create 500 new jobs across the UK. The jobs will be in various positions across the company, including finance, customer support, administration and management. The society currently employs more than 1,000 staff across its 37 branches and main offices.
The firm will also move part of its operations to a new base in North Tyneside. Chief executive Colin Seccombe said the firm was looking to move into its new base at the Cobalt Business Park in North Tyneside at the start of 2008. The majority of jobs, to be created from 2007 to 2012, will be within its Strategic Solutions division, which provides technology and administrative support services to third party clients, such as banks and other building societies.
Mr Seccombe said: 'We have recently enjoyed significant growth across the whole business. Cobalt Business Park offers us the best solution in terms of location and facilities.'
Development agency One NorthEast has invested 1.3 million GBP into the expansion project.
Sources
7 September 2007: BBC Website
Citation
Eurofound (2007), Newcastle Building Society, Business expansion in United Kingdom, factsheet number 65797, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/65797.
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