Unite, Britain’s biggest union, has urged the Co-op Bank to protect jobs to secure a sustainable and long-term recovery for the bank as it announces losses of £1.3 billion.
Unite national officer Rob MacGregor said: “Clearly the Co-op Bank faces major challenges ahead, but we call on the bank not to make the same mistakes other banks have made and to stick to its ethical principles, which must include treating staff fairly.
“Staff are being asked to make sacrifices and over 1,000 staff have already lost their jobs. In order to give the bank a sustainable recovery the Co-op is going to need motivated and loyal staff, so we urge the bank to protect jobs for the long-term.
“The past performance of the bank has been shambolic, if former senior executives are responsible then they should not be paid a penny. The bank must show that any pain will be shared at all levels and that executive pay is fair. The executive pay row at the Co-operative Group has had a big impact on morale in the bank, even though they are separate now. We want the bank leadership to make it clear that it won’t make the same mistake.”
Contact: Ciaran Naidoo on 07768 931 315
Notes for 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.