Yorkshire Bank confirms 70 jobs to be cut from its Leeds HQ

The Yorkshire Bank building on Merrion Way, Leeds.
The Yorkshire Bank building on Merrion Way, Leeds.
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Yorkshire Bank has announced that a total of 70 jobs are to be cut from its offices in Leeds.

The roles are being lost from bank’s operational division and are all based at the bank’s headquarters on Merrion Way in the city centre.

The cuts are part of a wider programme of redundancies across the business which has already seen an additional 10 jobs lost in Scotland.

Staff within the business had been made aware some time ago that a review was underway of staffing within the operational wing of bank. The individuals affected were made aware yesterday.

Last night Yorkshire Bank declined to issue a formal statement on the redundancies but The Yorkshire Post understands that the redundancies were part of a wider restructure of the business to reduce back office functions and safeguard frontline customer-facing positions.

Earlier this year Yorkshire Bank revealed the closure of 39 branches around the county including 18 in Yorkshire, a move which in itself saw 200 jobs cut within the bank’s workforce.

The bank, which recently went into public ownership is currently invest more than £350m to reduce costs and increase efficiencies in a tough trading market.

The company is targeting more than £100m of sustainable cost reductions by 2019.

Yorkshire Bank forms part of the Clydesdale Yorkshire Bank Group (CYBG), which demerged from former owner National Australia Bank last year, and is currently listed on the FTSE 250 index.