Lloyds Bank faces backlash over further store closures

Lloyds Bank today announced it will permanently shut 44 Lloyds and Halifax branches, sparking backlash from trade unions.

Unite expressed anger at the decision to close the bank branches, describing the move as a “bitter blow for customers, staff, and local communities.”

The bank said that the closures are a result of a decline in transactions at the branches as customers shift to online banking.

"Like many businesses on the High Street, we must change for a future where branches will be used in a different way, and visited less often," said Vim Maru, retail director, Lloyds Banking Group.

Lloyds told Unite that the majority of impacted employees will be redeployed, with some voluntary redundancies.

“The decision by Lloyds Banking Group to further erode its presence within our communities is baffling,” said Caren Evans, Unite national officer. “The closure of 44 more bank branches will deny our communities of essential services such as access to cash and experienced highly trained staff.”

Evans added: “A local ATM is not a suitable alternative to a staffed bank branch.”

She said while in recent times the bank has spent “significant resource” to sell its message of ‘Helping Britain Recover,’ Unite is seriously questioning how the decision to close branches promotes this message.

    Share Story:

Recent Stories

The Future of Intelligent Finance
FStech Group Editor Mark Evans sits down with Jason Cao, President of Global Financial Services Business Unit, Enterprise BG at Huawei ahead of its Intelligent Finance Summit which was held on 3rd and 4th of June in Shanghai. This Q&A delves into key trends in digital transformation of the financial services industry as well as a look at how data, robotic infrastructure, intelligent storage and innovative technologies are shaping the future for FSIs.

The Rise of Instant Payments
Instant payments are creating new business opportunities for banks by providing more touchpoints than ever. With these evolutions underway, Featurespace brought leading industry experts together to discuss how they are protecting customers from fraudsters in real time, utilizing innovative and disruptive solutions to reduce fraud. Click here to find out more.

Offloading Cyber Risk in the Cloud
As cyber attacks and data breaches are in the news on an increasingly regular basis - with regulatory penalties and customer trust on the line for financial services firms - it has never been more crucial to be compliant in the cloud.

This video, with Akamai’s EMEA director of security technology and strategy Richard Meeus, will help explain what your company can be doing to make sure it’s not embroiled in the next big fine or front-page scandal.