Virgin Money UK to close over 30% of bank branches

Virgin Money UK has told staff today that 39 bank branches will close before the end of the year resulting in 260 job losses.

The bank has today (20 July) informed its workforce that a third of Virgin Money bank branches will close by the end of 2023.

Unite General Secretary, Sharon Graham said: “This announcement of the closure of 39 vital bank branches has sent shock waves across the Virgin Money UK workforce. Today 260 skilled and experienced staff have learnt that they risk losing their livelihoods at a time of deep economic uncertainty for all workers.

“While the financial services sector is acquiring eye watering profits, they must start taking their responsibilities to customers and communities more seriously. Access to a bank and cash is a fundamental need for all our local high streets. Simply walking away from the consumers who bring the banks astronomical profits is a complete disgrace.”

“Unite is working hard across all locations to support its members as they digest the implications of this awful news.”

Unite national officer, Caren Evans said: “The staff at Virgin Money UK are understandably devastated. The bank will close 39 sites leaving only 91 Virgin Money branches left.

“Unite has urged the bank to rethink these catastrophic plans to withdraw banking services from communities who very much depend on the skilled and experienced banking staff. This decision to pull out of these locations will hurt some of the most vulnerable, disabled and digitally excluded customers.”

Since 2015 over 6,000 bank branches have closed their doors.

The news today will result in the closure of the following bank branches:

ENDS

For more information please contact: Saba Edwards, senior communications officer on: 07768 693 953.  

Unite is the leading union in the UK and Ireland, dedicated to defending and improving members' jobs, pay and conditions. The general secretary is Sharon Graham