N Rock confirms plans to cut 2,000 jobs by 2011

British mortgage bank Northern Rock, nationalised in February, confirmed on Wednesday that it would cut 2,000 jobs by 2011, with 1,300 jobs going through redundancy and the rest through turnover as staff depart.

By Agencies | Jul 30, 2008, 06.14 PM IST

LONDON: British mortgage bank Northern Rock, nationalised in February, confirmed on Wednesday that it would cut 2,000 jobs by 2011, with 1,300 jobs going through redundancy and the rest through turnover as staff depart.

The bank, which nearly collapsed last year, said voluntary redundancies would account for 500 of the job cuts. It will ultimately have a workforce of around 4,000, the bank said.

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