Britain’s largest union Unite warned that further job losses at Lloyds Bank could have ‘unknown’ consequences for customer service, as it called for a no compulsory redundancy guarantee following confirmation of plans by the bank to cut a further 9,000 jobs over the next three years.
Today’s (Tuesday 28 October) announcement is the latest in a series of cuts which have seen over 30,000 jobs go since the banking crisis in 2008. The move, which could see the closure of 150 branches, prompted Unite to call on Lloyds to slash executive pay if there were compulsory redundancies and customer service suffered.
The confirmation by Lloyds, which is a quarter owned by the taxpayer, follows last week’s leak of the job losses. The leak led to calls by the union for financial regulators to investigate how potentially market sensitive information has repeatedly found its way into the public domain.
Commenting Unite national officer Rob MacGregor said: “These are deeply unsettling times for Lloyds staff, who after days of speculation and leaks face yet another round of job cuts and a future of uncertainty.
“Job cuts of approximately 10 per cent could have unknown consequences on customer service and will put even more pressure on staff who have helped get the bank back on the right track.
"The wallets of top executives at Lloyds should not be getting fat by forcing low paid workers onto the dole. If there are compulsory redundancies or customer service suffers then executive pay should be cut.
“Over the coming days we will be pressing Lloyds for clarity and for guarantees over no compulsory redundancies.”
For further information please contact Unite head of media and campaigns Alex Flynn on 020 3371 2066 or 07967 665869.
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.