TSB announces the loss of 250 jobs
Today’s news follows on from TSB's CEO Robin Bulloch’s statement after the bank’s results for the first quarter of 2024 regarding the challenges facing the banking sector.
TSB made its plans to streamline the bank and make cost efficiencies clear earlier this year.
The role reductions announced today will be across branch banking, fraud operations, central support roles, risk and finance. 36 branches will also be closed.
Whilst we understand the challenges and pressures that TSB faces, we have concerns about the impact on employees and on customers.
TSB anticipates that the role reductions will be managed through voluntary redundancies and natural attrition. Of course, we will make clear that any compulsory redundancies are minimised.
We will continue our consultations with TSB around our concerns for colleagues which include:
- remaining staff having to cope with increased workloads
- the impact of experienced staff leaving the business
- changes to business areas, shift patterns and reporting lines
- reduced career opportunities
- And for those working in branches that are closing or reducing hours, dealing with customers who will be disappointed with these changes plus branch clusters expanding with potential increases in travel time and costs.
Supporting impacted members
We’re here to support and advise members about the changes whether they are staying or leaving because things don’t always go as expected.
If you’re impacted or just want to know more, please contact Accord’s Linda Crouch by email: [email protected] or by phone on 07766 518390.
Linda is being supported by our senior reps in TSB:
- Michelle White - [email protected] and 07495 955887
- Stephanie Hunter – [email protected] and 07969 904640
We’re always unhappy about reductions in roles and the opportunities available to members but we’re here to support you through this change.
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