The post-festive return to work in the snow, rain and wind is never easy, but for Lloyds and Halifax branch staff it’s made much worse when one reads the latest missive from Ms Jayne Opperman, CEO, Consumer Relationships.
In September 2024, Lloyds announced that it would be closing 55 more branches between January and September 2025 bringing the total number of branches in Lloyds Banking Group to just 932.
In her email to staff yesterday, Ms Opperman said:
“We know more people are choosing mobile over any other way to bank, but we also need to evolve how we support customers in other channels.
That’s why – from later this year – we’ll make it possible for customers to use any of our Lloyds, Halifax, and Bank of Scotland branches, regardless of brand they bank with giving them access to the biggest combined branch network”.
Ms Opperman said something similar late last year, but we’ve been told by a member of the implementation team that it will be rolled out in Q4.
Notwithstanding the flowery language used by Ms Opperman, the co-serving of customers is not about engagement or choice, it’s about making it easier for Lloyds to close more branches and save more money. In a separate presentation seen by the Union, Lloyds confirmed that 25% of its branch network shares the same location. So, in Bedford for example, where the Union is based, there is Lloyds branch and a Halifax branch virtually next door to each other. Staff now wear the same uniforms, move between branches to work and from later this year, Lloyds and Halifax customers will be able to do all their banking in either branch regardless of their brand heritage.
What do you think Lloyds will do in Bedford after it’s implemented co-serving? It will simply close one of the branches and tell customers they can do their banking in the branch that remains open. That will be replicated across the three branch networks.
We estimate that Lloyds will be able to close 233 branches at the virtual drop of a hat, with thousands of staff losing their jobs.
Welcome to 2025!
The Labour Government said that it would make the ‘Big Four’ banks open 350 banking hubs over the next few years. We’ve said before that’s not enough – it should be at least double that – but it’s a start. The new hubs should also offer a wider range of services. We are hoping to have a meeting with Ms Tulip Siddiq, Economic Secretary to the Treasury and City Minister, in the next few weeks to explain the importance of driving the changes forward herself rather than relying on the banks. The ‘Big Four’ banks don’t want hubs any more than they want branches, and they will resist the changes at every opportunity, despite what they may say in public. She needs to hold their collective feet to the fire.
Members who want to raise issues related to closures should contact the Union’s Advice Team on 01234 262868 (choose Option 1).
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