Archive - Friday, 22 February 2002


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Jobs axe to fall at Stroud & Swindon

JOB losses and branch closures have been forced upon one of the largest employers in the Stroud Valleys this week as a result of the technological revolution in banking and commerce.

The Stroud & Swindon Building Society, which has its headquarters in Rowcroft, Stroud, announced on Tuesday that it was considering closing five branches and axeing just short of 50 jobs.

John Parker, the society's chief executive, said the move was the result of a review of operations undertaken last year by a special project team which included outside consultants.

He said that despite a successful year for the society it was facing an increasing challenge from the growing number of low-cost e-commerce companies.

Only one branch closure is being considered in Gloucestershire but what Mr Parker described as "a significant restructuring" of the management team at the Stroud headquarters means the loss of 29 posts from a total of 60, although 18 new jobs will be created.

For more details see the Stroud News & Journal this coming Wednesday, February 27.