NR to submit business plan to government

Northern Rock will submit its business strategy to the government next week in a move that will kickstart a 90-day consultation process with staff.

The bank will submit a HR1 document, which will include key facts about the bank’s immediate business plan, by the end of next week.

As part of the consultation process NR will hold talks with trade union Unite over redundancies of up to 2,000 across the bank.