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
440 jobs Number of planned job losses
Announcement Date
25 January 2017
Employment effect (start)
1 May 2017
Foreseen end date
Description
Yorkshire Building Society (YBS) has announced that it is to close 48 of its branches and will no longer be offering current accounts. A total of 440 jobs are expected to be affected by this decision. YBS will focus on mortgages and savings accounts and will no longer operate the Norwich and Peterborough brand on the high street. 20 Yorkshire branches are due to close in May 2017, along with 28 Norwich and Peterborough branches starting from September 2017. Following the restructure, the company will have 260 branches remaining.
Sources
25 January 2017: The Guardian
Citation
Eurofound (2017), Yorkshire Building Society, Internal restructuring in United Kingdom, factsheet number 90120, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/90120.
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