The Masked Tulip Posted March 28, 2011 Share Posted March 28, 2011 (edited) Nationalised lender Northern Rock expects a further 680 job losses by the end of the year as it moves to drive down its costs.The taxpayer-owned bank, which recently posted an annual loss in 2010, said the cuts are necessary as it tries to return to profit and prepares for a return to private ownership. Northern Rock was nationalised in February 2008 after it collapsed amid the credit crisis, sparking the first run on a UK bank for 150 years. It employed a workforce of around 6,500 in 2007; this latest announcement reduces the workforce to fewer than 2,000. Read More http://www.walesonline.co.uk/news/uk-news/2011/03/28/northern-rock-to-axe-680-more-jobs-91466-28416758/#ixzz1HtzPNWCQ Edited March 28, 2011 by The Masked Tulip Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 28, 2011 Share Posted March 28, 2011 Seconds out...round 2. Quote Link to comment Share on other sites More sharing options...
Si1 Posted March 28, 2011 Share Posted March 28, 2011 good Quote Link to comment Share on other sites More sharing options...
Snafu Posted March 28, 2011 Share Posted March 28, 2011 Talked to a guy working there last week. He said he was expecting redundancies. Seems he was right. Quote Link to comment Share on other sites More sharing options...
THE BALD MAN Posted March 28, 2011 Share Posted March 28, 2011 Read More http://www.walesonline.co.uk/news/uk-news/2011/03/28/northern-rock-to-axe-680-more-jobs-91466-28416758/#ixzz1HtzPNWCQ Failed company supported by the tax payer... realistically this should have happened earlier...feel sorry for work force.. this was a result of greedy incompetent management who retained their bonuses etc Quote Link to comment Share on other sites More sharing options...
yokel Posted March 28, 2011 Share Posted March 28, 2011 Can still afford to sponsor Newcastle United though ! Money well spent Y Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted March 28, 2011 Share Posted March 28, 2011 Can still afford to sponsor Newcastle United though ! Money well spent Y Yes, it's not like anyone has heard of them....get your name out there... Quote Link to comment Share on other sites More sharing options...
albimac Posted March 28, 2011 Share Posted March 28, 2011 Can still afford to sponsor Newcastle United though ! Money well spent Y The system is still very topsy turvy. I was hoping that the hardtimes would bring with it, a return to a more common sense approach. However, I sometimes wonder if it will ever correct itself. Quote Link to comment Share on other sites More sharing options...
live in hope Posted March 28, 2011 Share Posted March 28, 2011 The system is still very topsy turvy. I was hoping that the hardtimes would bring with it, a return to a more common sense approach. However, I sometimes wonder if it will ever correct itself. 680 times 20000k per anum each employee is 13.6 million pounds. Isnt that about the figure of the bonuses anounced recently. Taking bonuses now is taking a years wages from a fellow employee, and sending him to collect it from the taxpayer.. Quote Link to comment Share on other sites More sharing options...
symo Posted March 28, 2011 Share Posted March 28, 2011 Good news for government stock with all that overpaid overhead being axed. Quote Link to comment Share on other sites More sharing options...
Democorruptcy Posted March 28, 2011 Share Posted March 28, 2011 Northern Rock: Back to old habits? http://www.bbc.co.uk/blogs/thereporters/robertpeston/2011/03/northern_rock.html Quote Link to comment Share on other sites More sharing options...
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