Last week the bank announced that all staff in grades C to G in branch management and area office teams could either opt to remain with the business or opt to leave the bank on the agreed redundancy terms. Many members have already contacted the union to discuss their personal circumstances.
The bank has said that it would expect maximum flexibility from those staff that choose to remain with Lloyds. That means members could be asked to move to another pool or Area, undertake a different role or even work for another brand altogether. And that could change on a regular basis. So, the bank will have significantly more control over not only where you work but also what you do and when you do it. Our advice is that members should consider carefully whether that level of flexibility and loss of control is something they can ‘live with’.
The in-house staff union, Accord, told staff last week that “We must also emphasise that this is a “one off” offer – it won’t be available again in the foreseeable future. So, it really is time to have a good think about what you want to do”. [BTU bolded text] That’s simply not right. As we have said before many managerial members in scope for this reorganisation in Lloyds have been through three or four preference exercises previously, and it’s not going to be the last one in retail banking. If members want to take the redundancy money and retire or they want to do something completely different then good luck to them. However, if members are taking the redundancy money because they believe it’s the last time it might be available then we would ask them to think long and hard before making that decision. It’s not going to the last time there will be redundancies in Lloyds Banking Group. Redundancies and reorganisations are now part of the DNA of Lloyds, not just for retail staff but for all staff across the bank. Equally, those members who need to carry on working once they take redundancy should consider the current economic environment. We are now in one of the worst recessions in living memory and it’s not going to get any better once the various job support schemes come to an end in the next few months.
Members should pass this Newsletter onto to their colleagues so they too can benefit from the biggest, independent trade union in Lloyds.
Members with any questions or who want to discuss their decisions with the union first should contact the Union’s Advice Team on 01234 262868 (choose Option 1).