TrendsWide
Contact US
  • Home
  • Trending
  • Health
  • Life Style
  • NBA
  • Reviews
No Result
View All Result
TrendsWide
  • Home
  • Trending
  • Health
  • Life Style
  • NBA
  • Reviews
No Result
View All Result
TrendsWide
No Result
View All Result
Home Trending

TSB will axe 900 jobs and close 164 high street bank branches

by souhaib
September 30, 2020
in Trending
0
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT


You might also like

A GoFundMe for a 27-year Burger King employee has reached almost $80,000

The movement in defense of the right to abortion takes the cities of the USA after the decision of the Supreme Court | Society

Following the Supreme Court ruling, can a woman who has an abortion go to jail? A lawyer explains it | Video

The death of high street banking: TSB will shut 164 branches losing 900 staff – as the days of popping in to pay bills or speak to the manager are gone for thousands after 3,500 banks vanish in last five years

  • Edinburgh-based bank says it expects most of the redundancies to be voluntary 
  • TSB said branch network would be the seventh biggest in the UK after closures
  • Some 193,731 job losses now announced by major UK employers since lockdown
  • TSB, part of Sabadell, says cuts are part of three-year strategy to reduce costs

By Mark Duell for MailOnline

Published: 10:15 BST, 30 September 2020 | Updated: 10:46 BST, 30 September 2020

TSB has said it will cut around 900 jobs as part of plans to close 164 of its high street bank branches. 

The Edinburgh-based bank said it expects most of the redundancies to be voluntary but did not rule out forcing staff out.

TSB added that its branch network would be the seventh biggest in the UK after the closures reduce it by a third.

In comes in the context of a bloodbath on the high street, with 193,731 job losses now announced by major British employers since the start of the lockdown in March.

TSB also said that more than nine in ten customers will have less than 20 minutes travel to a branch, and that people are increasingly banking online.

TSB has said it will cut around 900 jobs as part of plans to close 164 of its bank branches (file)

The bank, part of Spain’s Sabadell, said the cuts were part of its three-year strategy to reduce costs to stay competitive. 

The company has previously said it intended to reduce the size of its branch network but has now accelerated plans amid the pandemic.

What jobs have already been cut by the big four banks across Britain?

Lloyds Banking Group: Lloyds said on September 9 it was cutting 865 jobs in departments such as insurance and wealth management. The firm has about 65,000 staff and had warned of cuts in January, before the pandemic. 

HSBC: Europe’s biggest bank said on August 3 it would ‘accelerate’ a restructuring plan which included cutting 35,000 jobs. The proportion of these in the UK is not yet known. 

NatWest: The group said on August 12 it was cutting 550 jobs in UK branches and closing a London office, but there would be no branch closures. 

Barclays: The bank told staff in April that it was halting new job cuts while the pandemic was ongoing, adding that it was supporting employees in the process of being made redundant 

It will leave the bank with 290 branches, more than halving its store estate over the past seven years.

The announcement comes after a study by consumer group Which? in July found banks and building societies had closed, or scheduled the closure, of 3,588 branches since January 2015, at a rate of about 55 each month.

TSB chief executive Debbie Crosbie said: ‘Closing any of our branches is never an easy decision but our customers are banking differently – with a marked shift to digital banking.

‘We are reshaping our business to transform the customer experience and set us up for the future. 

‘This means having the right balance between branches on the high street and our digital platforms, enabling us to offer the very best experience for our personal and business customers across the UK.

‘We remain committed to our branch network and will retain one of the largest in the UK.’

Employee unions Unite and TBU strongly criticised the cuts, with Unite calling it a ‘dark day for the finance sector’.

TBU General Secretary Mike Brown said: ‘To throw hardworking staff on the scrap heap in the middle of a pandemic and against the backdrop of the worst financial crisis in a generation is nothing short of scandalous.’ 

Dominic Hook, Unite national officer, added: ‘Unite has urged the bank to rethink these plans and protect these much-needed jobs during the current health pandemic.

TSB chief executive Debbie Crosbie said the bank is 'reshaping our business to transform the customer experience and set us up for the future'

TSB chief executive Debbie Crosbie said the bank is ‘reshaping our business to transform the customer experience and set us up for the future’

‘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.’ 

In July, Which? told how banks have continued to close branches at an ‘alarming rate’ despite new rules introduced to protect them.

HSBC, Lloyds, Santander, the Co-Op Bank, TSB and Virgin Money have together closed more than 600 branches since protective measures were launched in 2017, according to Which?.

A study by consumer group Which? in July found banks and building societies had closed (or scheduled the closure) of 3,588 branches since January 2015, at a rate of about 55 each month

A study by consumer group Which? in July found banks and building societies had closed (or scheduled the closure) of 3,588 branches since January 2015, at a rate of about 55 each month

And NatWest and Barclays have shut 651 and 386 branches respectively in the past three years, the investigation found.

Under the rules – called the Access to Banking Standard – banks are required to consider what impact any closures would have on residents and publish their findings.

They must also give customers at least 12 weeks’ notice before shutting down and clearly signpost alternative services, such as a nearby Post Office.

Yet despite leaving many areas without a single branch, not one of the banks has reversed a closure in three years, Which? said.

Nearly 200,000 job losses revealed by UK firms since lockdown began 

Some 193,731 job losses have been announced by major British employers since the start of the lockdown in March as follows:

  • September 30 – TSB – 900 
  • September 22 – Wetherspoon – 400 to 450
  • September 22 – Whitbread – 6,000
  • September 18 – Investec – 210
  • September 15 – Waitrose – 124
  • September 14 – London City Airport – 239
  • September 9 – Lloyds Bank – 865
  • September 9 – Pizza Hut – 450
  • September 4 – Virgin Atlantic – 1,150
  • September 3 – Costa – 1,650
  • August 27 – Pret a Manger – 2,800 (includes 1,000 announced on July 6)
  • August 26 – Gatwick Airport – 600
  • August 25 – Co-operative Bank – 350
  • August 20 – Alexander Dennis – 650
  • August 18 – Bombardier – 95
  • August 18 – Marks & Spencer – 7,000
  • August 14 – Yo! Sushi – 250
  • August 14 – River Island – 350
  • August 12 – NatWest – 550
  • August 11 – InterContinental Hotels – 650 worldwide
  • August 11 – Debenhams – 2,500
  • August 7 – Evening Standard – 115
  • August 6 – Travelex – 1,300
  • August 6 – Wetherspoons – 110 to 130
  • August 5 – M&Co – 380
  • August 5 – Arsenal FC – 55
  • August 5 – WH Smith – 1,500
  • August 4 – Dixons Carphone – 800
  • August 4 – Pizza Express – 1,100 at risk
  • August 3 – Hays Travel – up to 878
  • August 3 – DW Sports – 1,700 at risk
  • July 31 – Byron – 651
  • July 30 – Pendragon – 1,800
  • July 29 – Waterstones – unknown number of head office roles
  • July 28 – Selfridges – 450
  • July 27 – Oak Furnitureland – 163 at risk
  • July 23 – Dyson – 600 in UK, 300 overseas
  • July 22 – Mears – fewer than 200
  • July 20 – Marks & Spencer – 950 at risk
  • July 17 – Azzurri Group (owns Zizzi and Ask Italian) – up to 1,200
  • July 16 – Genting – 1,642 at risk
  • July 16 – Burberry – 150 in UK, 350 overseas
  • July 15 – Banks Mining – 250 at risk
  • July 15 – Buzz Bingo – 573 at risk
  • July 14 – Vertu – 345 July 14 – DFS – up to 200 at risk
  • July 9 – General Electric – 369
  • July 9 – Eurostar – unknown number
  • July 9 – Boots – 4,000
  • July 9 – John Lewis – 1,300 at risk
  • July 9 – Burger King – 1,600 at risk
  • July 7 – Reach (owns Daily Mirror and Daily Express newspapers) – 550
  • July 6 – Pret a Manger – 1,000 at risk
  • July 2 – Casual Dining Group (owns Bella Italia and Cafe Rouge) – 1,909
  • July 1 – SSP (owns Upper Crust) – 5,000 at risk
  • July 1 – Arcadia (owns TopShop) – 500
  • July 1 – Harrods – 700
  • July 1 – Virgin Money – 300
  • June 30 – Airbus – 1,700
  • June 30 – TM Lewin – 600
  • June 30 – Smiths Group – ‘some job losses’
  • June 25 – Royal Mail – 2,000
  • June 24 – Jet2 – 102
  • June 24 – Swissport – 4,556
  • June 24 – Crest Nicholson – 130
  • June 23 – Shoe Zone – unknown number of jobs in head office
  • June 19 – Aer Lingus – 500
  • June 17 – HSBC – unknown number of jobs in UK, 35,000 worldwide
  • June 15 – Jaguar Land Rover – 1,100
  • June 15 – Travis Perkins – 2,500
  • June 12 – Le Pain Quotidien – 200
  • June 11 – Heathrow – at least 500
  • June 11 – Bombardier – 600
  • June 11 – Johnson Matthey – 2,500
  • June 11 – Centrica – 5,000
  • June 10 – Quiz – 93
  • June 10 – The Restaurant Group (owns Frankie and Benny’s) – 3,000
  • June 10 – Monsoon Accessorise – 545
  • June 10 – Everest Windows – 188
  • June 8 – BP – 10,000 worldwide
  • June 8 – Mulberry – 375
  • June 5 – Victoria’s Secret – 800 at risk
  • June 5 – Bentley – 1,000
  • June 4 – Aston Martin – 500
  • June 4 – Lookers – 1,500
  • May 29 – Belfast International Airport – 45
  • May 28 – Debenhams (in second announcement) – ‘hundreds’ of jobs
  • May 28 – EasyJet – 4,500 worldwide
  • May 26 – McLaren – 1,200
  • May 22 – Carluccio’s – 1,000
  • May 21 – Clarks – 900
  • May 20 – Rolls-Royce – 9,000
  • May 20 – Bovis Homes – unknown number
  • May 19 – Ovo Energy – 2,600
  • May 19 – Antler – 164
  • May 15 – JCB – 950 at risk
  • May 13 – Tui – 8,000 worldwide
  • May 12 – Carnival UK (owns P&O Cruises and Cunard) – 450
  • May 11 – P&O Ferries – 1,100 worldwide
  • May 5 – Virgin Atlantic – 3,150
  • May 1 – Ryanair – 3,000 worldwide
  • April 30 – Oasis Warehouse – 1,800
  • April 29 – WPP – unknown number
  • April 28 – British Airways – 12,000
  • April 23 – Safran Seats – 400
  • April 23 – Meggitt – 1,800 worldwide
  • April 21 – Cath Kidston – 900
  • April 17 – Debenhams – 422
  • March 31 – Laura Ashley – 268
  • March 30 – BrightHouse – 2,400 at risk
  • March 27 – Chiquito – 1,500 at risk

Share or comment on this article:



Source link

Share this:

  • Twitter
  • Facebook
  • More
  • Pinterest
  • Telegram
  • Email
Tags: dailymail
Share30Tweet19
Previous Post

Nagorno-Karabakh: Why has there been a flare-up of violence?

Next Post

National Coffee Day 2020: Get free drinks and deals Tuesday at Krispy Kreme, Starbucks, Dunkin', Panera and more

souhaib

Recommended For You

A GoFundMe for a 27-year Burger King employee has reached almost $80,000

by souhaib
June 25, 2022
0

GoFundMe for Burger King worker, 60, who got movie ticket, candy and pens for 27 years of service hits almost $80,000 after David Spade gave him $5,000Kevin Ford...

Read more

The movement in defense of the right to abortion takes the cities of the USA after the decision of the Supreme Court | Society

by souhaib
June 25, 2022
0

Participants in the New York protest march this Friday.JUSTIN LANE (EFE)In front of the imposing Supreme Court building in Washington, closed tight and protected by a three-meter-high fence,...

Read more

Following the Supreme Court ruling, can a woman who has an abortion go to jail? A lawyer explains it | Video

by souhaib
June 25, 2022
0

Paula Ávila-Guillén, feminist lawyer and executive director of the Center for Women's Equity, explained in an interview with Camilo that, depending on the state where the woman lives,...

Read more

In the United States, abortion is no longer a federal right

by souhaib
June 25, 2022
0

People demonstrate following the overturning of the judgment authorizing abortion in the United States, outside the Supreme Court, in Washington, on June 24, 2022. BRANDON BELL / AFP...

Read more

Ukraine war.. Russia tightens control over Severodonetsk and 40 countries discuss food crisis in Berlin | Politics news

by souhaib
June 25, 2022
0

Russian forces declared full control of the strategic city of Severodonetsk in eastern Ukraine, at a time when Ukrainian forces withdrew from the city, while 40 countries searched...

Read more
Next Post

National Coffee Day 2020: Get free drinks and deals Tuesday at Krispy Kreme, Starbucks, Dunkin', Panera and more

No Result
View All Result

Recent Posts

  • A GoFundMe for a 27-year Burger King employee has reached almost $80,000
  • The movement in defense of the right to abortion takes the cities of the USA after the decision of the Supreme Court | Society
  • NBA: The 10 players to watch in the 2022 NBA Draft
  • Following the Supreme Court ruling, can a woman who has an abortion go to jail? A lawyer explains it | Video
  • In the United States, abortion is no longer a federal right

Browse by Category

  • Australia
  • Automotive
  • Business
  • Celebrity
  • Cryptocurrency
  • Deals
  • Economie
  • Education
  • Euro
  • Forex
  • Gaming
  • Health
  • Life Style
  • NBA
  • News
  • Reviews
  • Sports
  • Switzerland
  • Trending
  • U.S.
  • Uncategorized

Categories

  • Australia
  • Automotive
  • Business
  • Celebrity
  • Cryptocurrency
  • Deals
  • Economie
  • Education
  • Euro
  • Forex
  • Gaming
  • Health
  • Life Style
  • NBA
  • News
  • Reviews
  • Sports
  • Switzerland
  • Trending
  • U.S.
  • Uncategorized

Pages

  • Contact US
  • Newsletter
  • Privacy Policy
  • Terms & Conditions

© 2021 - TrendsWide

No Result
View All Result
  • Home
  • Contact US
  • Privacy Policy
  • Trending
  • U.S.
  • Economie
  • Deals
  • Reviews
  • Cryptocurrency
  • Health
  • Life Style
  • NBA

© 2021 - TrendsWide