Union response to Northern Rock cost cutting
measures
8 June 2010
Rob MacGregor, Unite national officer said: “The decision by
Northern Rock management to cut over 20% of its workforce and
alter the pensions of the remaining staff is devastating. Such
massive changes represent a total reappraisal of the service the
bank provides to it’s customers.
“Since 2008 Northern Rock has reduced its employees by over
2,000, yet staff are being told today that the business has not
restructured sufficiently to be cost effective. There are now
serious questions about how change, in this important North East
based financial institution, is being managed.
“It is unacceptable that we are now seeing rash decisions based
on a short-term management strategy in order to make Northern Rock
appear more attractive to a private seller. It is now essential
that there is political intervention to prevent this business being
dramatically scaled back and prepared for sale.
“The scale of these job losses and pensions changes will be
painful process for every one of the 4,500 staff at the bank. Unite
will be doing everything we can to save the jobs and future of
Northern Rock.”
- Ends –
For more information please contact: Saba Mozakka, Unite press
office on: 07768 693 953.
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