If you read between the lines this is great news! It just means Ron Sandler is doing the job properly. I can't believe anyone thought this would be an old fashioned, very inefficient, nationalisation of days gone by. Sandler will get this company back on its feet, then it can be sold at a profit!

Marcus, Perth, Australia

2000 lost jobs and blighted livelihoods is a small price to pay for Adam Applegarth's bonus and pension package; after all, he was the principal architect of this whole catastrophe and that kind of vision and leadership doesn't grow on trees.

David Masu, Zürich,

One might have hoped that this nationalisation would protect jobs and allow NR to supply affordable products to those who might otherwise struggle to get a mortgage. Shamefully for a supposedly Labour government, in both cases the exact opposite has happened.

mbatey, Sheffield ,

How much per employee did the taxpayer cough up to save the remaining jobs? What exactly was the point of "saving" this company? What prevented it from being merged with a solvent bank? Will the Govt. do the same for other non-bank companies?

jon livesey, Sunnyvale, CA/USA

Surprising use of words from Mr Sandler, ''2000 of CURRENT jobs' in the official release. Therefore, does this cut of roles not incude the 5-700 staff whom have left since the troubles began and not been replaced due to the employment/promotion embargo within NR?

Chris, Lonon,

Being confident that the government would never intervene to save my job I ask : "consultation... why?"

e skelton, cardiff, uk

Surprise surprise.

Farrukh, Woking, UK

Unite said: “If downsizing goes ahead, Unite will be demanding that Northern Rock gives a commitment to no compulsory redundancies." Good luck with that!

“The workforce did not contribute to the situation which the bank now finds itself in..." The workforce are the bank. All for one etc.

Tom, London, UK

How long before this Nationalised Bank collapses, akng with it billions of taxpayers' money?

Neil, Gloucestershire, England

Businesses close every day for any number of reasons so Norther Rock employees should be thankful they still have a job in a bankrupt company. They should use the time wisely to adjust to their new reality not ponder that reality to simply apportion blame elsewhere.

Barry, Shrewsbury, Shropshire

When a company does not have enough money to meet its financial obligations it is technically bankrupt. From that moment on the "jobs" become known as "non-jobs". This is a harsh term which infers that jobs in non profitable private businesses will inevitably cease to exist (albeit not immediately

David Pengilly, Long Ditton,