Northern Rock has revealed plans to shed around 1,300 jobs as it reorganises operations and looks to the future.
This figure is lower than originally expected, which is good news for some members of staff who wish to stay. Northern Rock are anticipating around 500 people taking voluntary redundancy, leaving just 800 to be selected by management. The original estimate was for around 2,000 job losses, but discussions with staff representatives and management has lowered that number.
After being nationalised earlier this year Northern Rock has a duty to pay back the money loaned to it and in order to do this it has had to revise the way it operates. Cutting costs but remaining active in the key markets is how this will be achieved, hence the job losses now being applied.
,p>The Alliance and Leicester current account offer that has a credit interest rate of 8.5 percent gross is being extended until the end of September according to a recent announcement.
The move has been made to encourage more consumers to save regularly, the high interest rate being a real eye catcher designed to highlight the benefits of saving. The accounts that are included in this Alliance and Leicester promotion are the Premier 50 and Premier Direct current accounts.
Younger savers also have an extension on their own promotion. The Alliance and Leicester Premier 21 account is a current account specifically for those aged between 16 and 21 which is offering a 10 percent interest rate during the promotional period.
Barclays Bank current account customers have been made aware of some changes to the bank accounts, including an overdraft service and some new accounts.
The new overdraft service is called Personal Reserve and replaces the existing unauthorised overdraft facility. An annual fee of GBP22 provides access to an additional overdraft for up to five days. This can be used as a safety net for Barclays Bank customers who go over their normal limit, protecting them from additional bank charges.
In addition five new Barclays current accounts have been introduced, offering alternatives from free in credit accounts to annual fee accounts with extra services and interest free overdraft options. The choice provided for the customer is growing explained a Barclays spokesman.
