The Center for Grassroots Oversight

This page can be viewed at

March 19, 2008: Nationalized British Bank Announces Third of All Employees Will Be Laid Off

Recently nationalized British bank Northern Rock says it will cut about 2,000 jobs and reduce its residential mortgage lending by half. The job cuts, which account for about a third of its staff, will be made by 2011 under plans to turn around the ailing bank’s fortunes. The staff unions strongly protest the move. (BBC 8/5/2008)

Creative Commons License Except where otherwise noted, the textual content of each timeline is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike