National Australia Bank to axe 1,700 British regional jobs in major overhaul

ABOUT 1,700 jobs are to be axed in Britain after the Australian owner of two historic regional banks announced plans for a radical overhaul yesterday.

National Australia Bank (NAB) also warned of possible branch closures as it looks to save up to £117 million a year at the Clydesdale and Yorkshire.

Most of the restructuring will involve back office jobs, after NAB confirmed it wanted to strip out the duplication of posts among the two businesses, which have been run as separate entities and employ a total of 10,300 staff.