About 1,700 jobs are being axed at two major UK banks as part of a restructuring plan by their Australian owner, it was announced today.

Jobs are under threat at the Yorkshire and Clydesdale Banks over the next 12 to 18 months.

Yorkshire Bank has about 30 branches in the North-East but these are not expected to be directly affected. National Australia Bank said the cuts will mainly be in bank-office operations, but would not provide a breakdown of where the jobs will go.

Full story in The Northern Echo tomorrow.