A dark day as TSB announces closure of third of its bank branches
- Wednesday 30 September 2020
Unite, a recognised trade union in TSB, has called today an extremely sad day following the decision by TSB to cut a third of its local bank branches and reduce its workforce by 10 per cent.
TSB has today (Wednesday 30 September) informed its staff that they will be making significant employee reductions next year. The overall reduction numbers announced will result in 848 less people working for the Bank. The TSB will also permanently close164 bank branches by the end of June 2021.
Dominic Hook, Unite national officer said: “The decision by TSB to cut over 900 staff and close 164 branches makes this a dark day for the finance sector. Staff across TSB will be devastated by this news.
“Unite has urged the bank to rethink these plans and protect these much-needed jobs during the current health pandemic. Not only do these staff deserve more from their employer after showing the utmost loyalty to TSB, customers will be deeply hit by these branch closures.
“Unite has argued for some time that the financial services industry has a social responsibility not to walk away from its local customers who continue to need access to banking in bank branches. It beggars belief that just seven years ago TSB had 631 local branches and this announcement will reduce that number to merely 290 branches.
“Unite is supporting our members across the country as they absorb the news. The union is working with TSB to put into place every possible remedy to support the staff to avoid any compulsory redundancies, in finding suitable alternative employment and offering advice and support to assist colleagues.”
For further information contact Saba Edwards on 07768 693 953.