Business Services Industry
National slashes 1700 jobs in Britain.(National Australia Bank Ltd.)(Brief Article)
Australasian Business Intelligence, March, 2005
Mar 30, 2005 (The Mercury - ABIX via COMTEX)
The reorganisation of National Australia Bank's (NAB) two remaining banking operations in Great Britain will involve cutting 1,700 jobs. The restructure is expected to generate cost savings of $A285m a year. NAB's first-half results will include a $A266m provision to cover the restructuring of Clydesdale Bank and Yorkshire Bank and the job losses. NAB's United Kingdom CEO, Lynne Peacock, said the majority of positions to be lost at the two banks will be non-customer roles. Shares in NAB increased $A0.04 to $A28.53 on 30 March 2005.
Publication Date: 31 March 2005
NATIONAL AUSTRALIA BANK LIMITED -
ASX NAB:
CLYDESDALE BANK PLC:
YORKSHIRE BANK PLC:
NORTHERN BANK LIMITED:...
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