NAB confirms more UK job cuts
(Australia) - The National Australia Bank has confirmed that its UK job cuts will be deeper than originally thought, with almost 1,000 jobs set to go at its British and Irish operations.
NAB announced in April that 250 jobs would go at its British and Irish operations, which comprise Clydesdale Bank in Scotland, Yorkshire Bank, Belfast's Northern Bank and the National Irish Bank in the Republic.
Fine print in the NAB's annual report, published last week, has shown that the cuts will be even more extensive, with 910 jobs expected to be made redundant in Britain and Ireland.
The April restructure, which the bank called Positioning for Growth, also accelerated the merger of the Clydesdale and Yorkshire Bank's, and installed Steve Targett as the NAB's overall chief for the UK and Ireland.
The new job cuts represent 8 percent of NAB's European head count, which amounted to more than 13,000 full-time roles as of September this year.
The annual report shows that NAB is now planning to axe 2955 positions from its global financial services operations, a 37 percent increase on the original target.
Fine print in the NAB's annual report, published last week, has shown that the cuts will be even more extensive, with 910 jobs expected to be made redundant in Britain and Ireland.
The April restructure, which the bank called Positioning for Growth, also accelerated the merger of the Clydesdale and Yorkshire Bank's, and installed Steve Targett as the NAB's overall chief for the UK and Ireland.
The new job cuts represent 8 percent of NAB's European head count, which amounted to more than 13,000 full-time roles as of September this year.
The annual report shows that NAB is now planning to axe 2955 positions from its global financial services operations, a 37 percent increase on the original target.
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