Unite reaction to Northern Rock management announcement

16 November 2007

Graham Goddard, Unite Deputy General Secretary says: "It is essential that the announcement by Northern Rock management marks a fresh dawn for the bank. Unite's priority remains the job security of Northern Rock's employees, whose future continues to be uncertain.

"It is appropriate at this time to reflect on the massive differentials between the hard working staff, some of whom earn just £11,000 a year, and the executives who today announced their departure. Employees of the bank remain committed to the future of Northern Rock as a north-east based financial institution. Unite will continue to push for the protection of their terms, conditions and pension arrangements."