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Abbey National to cut back staff

  • 27/09/2002
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Abbey National looks set to cut back office staff following an ongoing a review of its cost base. ...

Abbey National looks set to cut back office staff following an ongoing a review of its cost base.

Departments affected are expected to include the mortgage processing operation.

The news follows the resignation of its chief executive, Ian Harley, in July this year after a slump in profits caused by problems in its wholesale operation.

The UK’s second largest lender employs around 28,000 people, although it has denied reports in the national press suggesting that job cuts could affect up to 3,000 employees.

Matt Young, spokesperson for Abbey National, said: ‘The numbers quoted in the media are pure speculation. We have said we are going to thoroughly evaluate our cost base and examine head counts and systems, but there has been no decision about anything as yet.’


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