Unite the Union

Unite the Union

January 11, 2008 07:41 ET

Unite Reaction to Northern Rock Developments

LONDON, UNITED KINGDOM--(Marketwire - Jan. 11, 2008) - Graham Goddard, Unite Deputy General Secretary, says: "Northern Rock employees today face further insecurity on hearing that the pension trustees have amended their forecast on the company pension fund. The announcement symbolises yet another blow for the committed staff of Northern Rock. Unite is pressing the company for urgent clarification for our members to ensure that the income of the fund is protected with security.

"This news comes on the same day that Northern Rock has announced the sale of their Lifetime Mortgage book. Unite is extremely alarmed that this move may symbolise a piecemeal sell off of the bank's assets. Unite will continue to oppose any asset stripping of Northern Rock and fight for the company to remain as a single financial entity based in the North East.

"In order to ensure the concerns of the employees of Northern Rock is heard, Unite members and staff will be demonstrating outside the shareholder meeting on Tuesday."

Contact Information

  • Unite Press Office
    Saba Mozakka
    020 7420 8916 or 07768 693 953