NAB sees 1,700 British jobs go |
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Published
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Thu, 31 Mar 2005 01:00
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The National Australia Bank (NAB) has announced a 1,700 job slash in its Yorkshire and Clydesdale branches in an attempt to develop greater customer focus and accomplish more agility and flexibility in the market.
This move is part of NAB’s restructuring regime, wherein it has decided to do away with repetitive functions in both the subsidiary branches (Yorkshire and Clydesdale) and look towards providing efficient and advanced services.
| This reduction of workforce will be affected over the coming 12-18 months and is expected to help NAB pocket about £117 million per year as savings.
While Yorkshire will have to retrench about 950 jobs, the Glasgow-based Clydesdale will see 750 positions hacked. NAB intends to consolidate its UK operations and augment growth by bringing the shutters down on branches that were ‘unprofitable’ and were only performing duplicate tasks.
NAB had however, convinced unions that it would try its best to combat forced redundancies by various methods of retraining as well as redeployment schemes.
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