Clydesdale announces job losses

Clydesdale and Yorkshire Bank has informed investors that “around” 330 jobs are to be cut as a number of sites around the UK are closed.
Specifically, sites in Edinburgh, Norwich and Leeds will close their doors.
This follows the takeover of Virgin Money in a deal worth £1.7bn , announced on 15 October 2018 .
The lender says that it is bringing its sales team together under one structure, which will result in material improvements for mortgage intermediaries, including providing a single point of contact for both brand’s product suites.
Unite national officer Rob MacGregor says that he is “deeply alarmed” by the news of upcoming redundancies and adds that: “The integration – which is due to take place in October 2019 – will clearly require some restructuring within the two existing businesses.
“Nonetheless, the scale of job losses and site closures announced today will come as a shock to colleagues. The personal cost of these plans will be major for staff. Unite is concerned that there are likely be further job losses.”
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