Lloyds Trade Union (LTU)

February 07, 2012 07:12 ET

Lloyds Banking Group Announces Four Site Closures & Redundancy Of The Jobs Of More Than 1,000 Staff

The Lloyds Banking Group has Today Announced That it Intends to Make Redundant the Jobs of a Further One Thousand Staff and to Close Four of the Sites it Currently Operates From

LONDON, UNITED KINGDOM--(Marketwire - Feb. 7, 2012) - The four sites being closed all belong to the Bank's Group Operations Division, which carries out back office processing for the Bank, and are:

  • Kingsway, Scunthorpe Mortgage Unit (208.5 FTE) - Mainly compulsory redundancies
  • Quay House, Dudley (217 FTE) - Relocation of most staff to another site
  • St James' House, Romford (212.3 FTE) - Mainly compulsory redundancies
  • Manors Business Park, Newcastle (135 FTE) - Mainly compulsory redundancies

The Group Operations Division (which is making 840 FTE staff reductions overall) is also consolidating its activities in fewer sites, reducing these from 27 to 15. It is expected over the coming months to announce yet more redundancies and site closures.

There are also a further 265 FTE job reductions being announced today; most notably a Contact Centre in the West Midlands and 67 FTE roles will be lost in the Insurance Division's Offshore Bonds function on the Isle of Man, which is being closed as the Bank withdraws from this sector.

Jobs Slashed In The UK ... But Retained In India

Despite having so far made the jobs of over 30,000 UK-based staff redundant since Lloyds TSB and HBOS first merged, the Lloyds Banking Group remains wedded to its unethical policy of transferring work to India, where it can recruit workers on inferior contracts and far lower pay than the staff they are replacing in the UK.

It is a simple fact that if the Bank were to abandon its discredited Offshoring Policy it could safeguard many of the existing jobs that are being lost in the UK.

The Bank should accept that it has a responsibility to its existing UK-based workers, the local communities within which it operates and the UK Tax Payer, by returning jobs to the UK.

Union Comments

Steve Tatlow, Assistant General Secretary at LTU, has said:

"This is yet another blow to hardworking, low-paid staff in the UK who have so far suffered over 30,000 job reductions since the creation of the Lloyds Banking Group.".

"We are urging the Bank to recognise that it has a responsibility to its existing UK-based staff, the communities within which it operates and the UK Tax Payer that bailed it out, by returning jobs previously transferred to India back to the UK.".

About Lloyds Trade Union (LTU)

Lloyds Trade Union (LTU) is the largest independent trade union representing staff working in the Lloyds Banking Group, with over 40,000 members. In large parts of the Bank, LTU represents over 90% of all managers and staff.

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