END OF AN ERA AT N&P
Redundancies across region as Norwich & Peterborough name dropped
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.