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 64.19 - Other monetary intermediation
565 jobs Number of planned job losses
240 jobs Number of planned job creations
Announcement Date
8 June 2010
Employment effect (start)
Foreseen end date
30 December 2011
Description
Nationwide Building Society is to shut branches of the Derbyshire, Dumfermline and Cheshire building societies by 2012 with 565 job losses. It is also closing its Duffield and Maclesfield regional office, as well as the Cheshire Estate Agency. The company blamed slow trading and the need to reduce duplication in its branch locations and offices.
Twelve Derbyshire branches will close in Arnold, Buxton, New Mills, Chapel-en-le-Frith, Chester, Coventry, Grimsby, Hanley, Leicester, Loughborough, Manchester and Sheffield. The Cheshire branches facing closure are Biddulph, Droyleden, Leyland, Poynton and Romiley. The job losses will include 240 in Derbyshire, 250 in Cheshire and 75 in Dumferline.
Meanwhile, 150 jobs will be created as Nationwide's branch in Dunfermline becomes a dedicated administration centre. A further 90 jobs will be created in Nationwide's Swindon and Northampton offices. The firm has said it will support affected staff by helping them find jobs within the society or with other firms. No figures were given for the number currently employed by the society.
Sources
8 June 2010: BBC Website
Citation
Eurofound (2010), Nationwide Building Society, Internal restructuring in United Kingdom, factsheet number 70656, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/70656.
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