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
730 - 1,400 jobs Number of planned job losses
Announcement Date
11 July 2012
Employment effect (start)
11 July 2012
Foreseen end date
Description
National Australia Bank (NAB), owner of Yorkshire and Clydesdale banks, will make 1,400 staff redundant by 2015 including 730 staff across the UK within the next few months as part of a major restructuring plan. The bank will close dozens of branches in South England as well as the Midland's region. The restructuring is blamed on the low prospects of the British branches coupled with troubled economic conditions.
Sources
30 April 2012: The Telegraph
11 July 2012: Sydney Morning Herald
Citation
Eurofound (2012), National Australia Bank (NAB), Closure in United Kingdom, factsheet number 74000, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74000.
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