- TSB announces closure of 36 branches, resulting in 250 job losses
- Union criticizes decision, citing service decline for customers
- Bank cites shift to online banking as reason, emphasizes support for affected staff
According to the trade union Unite, the high street lender’s decision is a “grave error” and “certainly results in a deterioration of service for customers due to these layoffs.”
The TSB, a bank on the high street, has declared the closure of 36 branches and the loss of 250 jobs.
The bank will implement workforce reductions in the fraud operations department, central operations, and personnel working at the branches designated for closure.
According to the trade union Unite, the decision was a “grave error,” which added that consumers would “certainly experience a decline in service as a result of these layoffs.”
The most recent phase of branch closures will commence in September and conclude in May of the following year.
Following the most recent round of closures, TSB will have 175 branches in the United Kingdom. Ten branches have been shut down thus far this calendar year.
The branches to be closed in September are in:
Alloa
Bedworth
Birmingham, Pype Hayes
Bridlington
Buxton
Carmarthen
Cwmbran
Dovercourt
Edinburgh, Leith
Frome
Glasgow, Cardonald
Glasgow, Castlemilk
Haddington
Hounslow
Lerwick
Leven
London, Bethnal Green
London, Clapham
Longton
Manchester, Middleton
Newcastle upon Tyne
Peterhead
Sheerness
Stornoway
Torquay
Whitehaven
The branches due to be closed in May 2025 are in:
Amble
Aylsham
Banff
Bedlington
Bude
Crook
Flint
Tenbury Wells
Whitchurch
The closures coincide with the lender’s statement that most account holders conduct online banking transactions, necessitating a “better balance” between in-person and digital workers.
The changes are being implemented “to remain competitive” and “to simplify the way we operate,” according to a TSB spokesperson.
The spokesperson added, “Our top priority is to consult with affected colleagues to ensure they are fully supported and to maximize redeployment opportunities wherever possible.”
We maintain our dedication to establishing a nationwide branch network, and by integrating and innovating with digital, telephone, video, branch, and other in-person services, TSB offers its customers an unprecedented array of banking options.
“Unlock your financial potential with free Webull shares in the UK.”
Andrew Case, a regional officer for Unite, stated that the employees slated for termination perform vital duties in the fraud departments and throughout the branch network.
Using substantial negotiations, Unite has successfully mitigated the number of jobs that were in jeopardy. Nevertheless, more is needed; the union is exerting urgent pressure on TSB to reevaluate its detrimental plan to close bank branches.
This is the incorrect course of action when consumers are increasingly concerned about financial fraud and frequently require assistance from a local bank branch.
According to the union, new negotiations are underway with TSB to avert additional layoffs.
Reductions were expected as a consequence of the CEO of Sabadell, the Spanish parent company of TSB, informing reporters in February that cost-cutting measures would lead to job losses and branch closures.
