Egg Bank Restructure
The online bank and credit card company cuts executives and managers
28th April 2005
Online bank Egg Plc will halve its number of executive board members and cut an undisclosed number of other senior management positions as part of a restructuring process.
The company says it intends to 'get back to being a UK business' after its aborted operations in the French market, which drained funds from the profitable UK division of the business.
The restructure is believed to translate into a £12m yearly saving for the company, and its shares rose 3% to 99p on the news.
Read More: Money Guardian
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Products from Egg : Card, Loans, Money, Motor Insurance, Savings Account |
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