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Reward Lloyds staff for putting the Horse back in the black

Reward Lloyds staff for putting the Horse back in the black

01 August 2013

Unite, Britain's biggest union, has called on Lloyds Banking Group to give staff a £500 one off payment to recognise their contribution to putting the Horse back in the black.

Lloyds Banking Group came out of the red into the black with half-year profits of £2.1 billion in a major  turnaround on losses of £456 million a year earlier.

For 2013 the bank gave its staff a meagre 1.75 per cent pay pot, one of the lowest rewards in the UK banking sector.

Unite national officer Dominic Hook said:
"The Horse is back in the black and workers in call centres, branches and back-offices up and down the country should be rewarded for their contribution.

"Unite will be urging the bank to give staff a one off payment of at least £500 to recognise their hard work in very difficult circumstances. This year workers got a meagre 1.75 per cent pay pot , they clearly deserve more credit than this given the bank made half-year profits of £2.1 billion.

"Most staff at the bank earn very modest sums, with many having to claim tax credits to help them get by. These staff did not cause the banking crisis but many paid for it with their jobs, or have had massive increases in workload with little or no reward.

"Lloyds must now end the constant job cuts which have plagued staff since 2008 and give them job security.

"The never ending cycle of job cuts across the banking industry is bad for bank staff, does nothing to support customers and it's bad for Britain's economy."

By the end of this year, Britain's big four banks will have axed 189,000 jobs around the world in the last five years since the banking crisis broke in 2008.

ENDS

Contact Ciaran Naidoo on 07768 931 315

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