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National Australia Group raises workers' hopes the...

National Australia Group raises workers' hopes then sacks them

07 March 2013

Unite, Britain's biggest union, is furious at today's (Thursday 7 March) announcement by the National Australia Group (NAG Clydesdale and Yorkshire Bank UK) that it intends to close its wealth business with the loss of 130 jobs.

The company today announced that it intends to close down its wealth business across the UK despite raising hopes by investing in training for its staff to meet new regulatory requirements.

The employees all face compulsory redundancy and the prospect of finding work in tough local job markets and a sector that has seen significant changes due to new regulatory requirements. The employees affected by the cuts are based up and down the UK and in larger clusters in Glasgow and Leeds.

Unite is also calling for answers as to why the announcement was leaked yesterday on the bank's internal systems. This has left staff stunned as they were told of their fates at the same time as unaffected employees heard the news.

Unite national officer Dominic Hook said: “NAG raised the hopes of staff then announced today they no longer have a job. The company invested money to train the staff to meet new regulatory requirements giving them hope for the future.

“Now they have been told that the company has changed its mind and decided to close the business down. This is a cruel decision for workers with years of loyal service.

“We are demanding that the company does everything possible to help find the staff alternative employment within the company or elsewhere in the financial services sector.”

ENDS

For more information please contact the Unite press office on 020 3371 2065. 

  • Unite is Britain and Ireland’s largest trade union with 1.5 million members working across all sectors of the economy. The general secretary is Len McCluskey.