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 64.99 - Other financial service activities, except insurance and pension funding n.e.c.
130 jobs Number of planned job losses
Announcement Date
29 January 2014
Employment effect (start)
Foreseen end date
Description
The UK's largest building society Nationwide is to cut 130 jobs from its financial planning team as it launches new online investment services.
The organisation stated that it is currently consulting on how the new online services will complement branch activities and what the resulting impact on the financial planning team will be. According to the sources, the company is seeking to redeploy affected staff members where possible.
In 2011, the ERM reported on job creation and job cuts by Nationwide.
Sources
29 January 2014: Citywire
Citation
Eurofound (2014), Nationwide, Internal restructuring in United Kingdom, factsheet number 76602, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76602.
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