END OF AN ERA AT N&P

Re­dun­dan­cies across re­gion as Nor­wich & Peterborough name dropped

The Peterborough Evening Telegraph - - Front Page - By Paul Grin­nell paul.grin­nell@jpress.co.uk Twit­ter: @PTPaulGrin­nell

200 jobs are fac­ing axe 10 branches to close His­toric name dropped

More than 200 jobs are at risk across the Peterborough area as the own­ers of the Nor­wich and Peterborough Build­ing So­ci­ety look to axe the fa­mous brand. Ten Nor­wich and Peterborough Build­ing So­ci­ety branches are likely to be shut and N&P cur­rent ac­counts closed­bytheYork­shireBuild­ing So­ci­ety as it over­hauls its busi­ness.

It is es­ti­mated a to­tal of 65 staff at the branches are at risk from the planned clo­sures which are set to take place in Septem­ber this year.

In ad­di­tion, 160 of its 400 staff at the York­shire Build­ing So­ci­ety of­fices in Lynch Wood, Peterborough, have been put at risk as a re­sult of the de­ci­sion to close the N&P cur­rent ac­counts and brand.

Con­sul­ta­tions have be­gun with staff deemed to be at risk.

TheYork­shireBuild­ingSo­ci­ety merged­with the N&Pin 2011.

A spokes­woman said: “Ev­ery­thing is be­ing done to en­sure the re­lo­ca­tion of staff af­fected. We ex­pect there to be some nat­u­ral turnover of staff.”

The so­ci­ety plans to close its N&P cur­rent ac­counts to ex­ist­ing cus­tomers and­with- drawtheN&Pbrand­fromthe high street over the next year.

The branches ear­marked for clo­sure in­clude out­lets in Bret­ton, Wer­ring­ton, Bourne, Mar­ket Deep­ing, Stam­ford, Spald­ing, Oun­dle, Whit­tle­sey, March and Hunt­ing­don.

Eight branches, in­clud­ing Cathe­dral Square, Peterborough, will re­main open.

MikeReg­nier, chief ex­ec­u­tive of the York­shire Build­ing So­ci­ety, said: “We be­lieve oper­at­ing with York­shire Build­ing So­ci­ety as our sole high street brand would al­low us to run the busi­ness more ef­fec­tively and ef­fi­ciently, en­abling us to de­liver bet­ter prod­ucts and­ser­vices for our mem­bers.

“These pro­pos­als would help us achieve that aim and fur­ther re­in­force York­shire’s po­si­tion as one of the most trusted fi­nan­cial ser­vices providers in the UK.”

Peter­bor­oughMP Ste­wart Jack­son said: “I’m ex­tremely dis­ap­pointed at the de­ci­sion and the im­pact it will have in thePeter­bor­oughareaon­jobs and branch avail­abil­ity.

“N&P is and was a strong brand and one we are proud of andthis feels like a big loss, with its demise.

“I am­seek­ing an ur­gent meet­ing with se­nior ex­ec­u­tives at York­shire Build­ing So­ci­ety to pro­tect the in­ter­ests as far as prac­ti­ca­ble for those staff in Peterborough who will be af­fected by this re­gret­table news.”

The Nor­wich & Peterborough brand is about to dis­ap­pear from the street scene.

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