Newsletters From BTU
Bah Humbug – Lessons From The Christmas Party
You probably won’t be surprised to hear that every January, we receive calls from members being investigated for their alleged misconduct (or gross misconduct – that is misconduct justifying dismissal) at their office Christmas parties. Allegations have...
Pay 2020 – Another Missed Opportunity
The 2020 pay pot is 2.4% compared to 2.6% last year. However, the Office for Budget Responsibility, which provides independent and authoritative analysis of the UK Public finances, is predicting that when pay becomes effective in April 2020, retail price index (RPI)...
Bank Pushes Working Pattern Changes
We’ve received numerous calls from members concerned about what appears to be the Bank’s latest push to change working hours and align them with branch opening times. Many of the members have been concerned that they will only be paid for the opening hours of the...
Union Campaign On Executive Pensions Wins Pension Increases For DC Members
By focusing relentlessly on the Mr. Horta-Osorio’s pension allowance worth 33% of his basic salary, and the allowances for all senior executives compared to those for staff generally, the union has forced Lloyds Banking Group to cut his pension package by £230,000 to...
Bank Breaks Own Policy On Fact Finds
A member subject to a fact find interview (an investigation meeting) asked for a copy of the recording made at the meeting or a transcript, only to be told by the Bank that she couldn’t have one. Leaving aside the wider implications of refusing to provide evidence...
Real Pay Progression – The Elephant In The Room
The last report and accounts showed that Mr. Antonio Horta-Osorio, Group Chief Executive, is paid some 169 times more than the average worker in Lloyds Banking Group. The Lloyds pay gap is the highest in the UK financial services sector, and one of the highest in the...
4.37 Million Customers Seeking Redress In Lloyds
According to documents leaked to the union there are some 4.37 million Lloyds customers awaiting remediation outcomes (in non-gobbledygook, having complaints resolved) costing the bank £766 million, and that doesn’t include new remediations introduced this year. Those...
Executive Pensions Enquiry – Lloyds Banking Group
Please click this text to view a PDF version.
Lack Of Transparency
The main problem with the bank’s new approach to pay and performance is its fundamental lack of transparency. According to the bank’s own research, 31% of staff don’t trust their line manager to make fair decisions about their reward. That’s a startling statistic. And...
Letter To MP Frank Field Regarding Executive Pensions
Please click here to view a PDF version of the letter.
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