Newcastle City Council has pledged to do all it can to help residents affected by news that Northern Rock is to shed 2,000 jobs. The troubled bank, which was nationalised by the Government in February, is based in Newcastle. Council chief executive, Ian Stratford, has joined the Northern Rock Response Group, set up to help those made redundant find jobs as quickly as possible. ‘Although Northern Rock's problems have been serious, the regional economy is performing well,' said Mr Stratford. ‘It's secured faster than average economic growth in recent years, with bigger-than-average gains in employment. ‘While I and my colleagues will work to minimise the short-term impact of the Northern Rock redundancies, Newcastle and the region will continue to build on its strengths.' Council leader, John Shipley, said: ‘None of us wanted to see redundancies but, unfortunately, some were inevitable, as the business faced the difficult task of being restructured. ‘I hope this revised business plan will put the Rock back on a firm footing, and in the future, it can begin to grow again.'
