Unite the union, representing the workforce at Virgin Money and also staff at Clydesdale and Yorkshire Bank, has this morning expressed alarm at the prospect of thousands of job cuts.

As the workforce turn up to work today the announcement that the £1.7 billion sale of Virgin Money by Clydesdale and Yorkshire Banking Group (CYBG) could result in a 16 per cent reduction in the combined workforce will come as a shock to staff across the country. 

Rob MacGregor, Unite national officer, said: “Thousands of banking employees have this morning heard through the media that their jobs are no longer secure.  

“Unite the union represents staff across both banks and has this morning expressed deep unease about jobs and services across both these financial institutions.  

“The purchase of Virgin Money by CYBG will change the face of banking in many high streets across the country. It is vital that the skilled and experienced workforce are given assurances that branches and contact centres will not be closed leaving customers without their much valued access to local banking.  

“Unite is now seeking an urgent meeting with the new combined chief executive David Duffy in order to secure assurances about the employment of the dedicated women and men across the county.” 

Unite is the only recognised union within both CYBG and Virgin Money. The combined workforce of both institutions is 9,500. 


For further information contact Saba Edwards 07768 693 953 

Notes to editors:

  • Unite is Britain and Ireland’s largest trade union with over 1.4 million members working across all sectors of the economy. The general secretary is Len McCluskey.