HUNDREDS of jobs at a Scots bank have been axed with staff saying their futures have been left in limbo.
Around 400 jobs are set to go at Lloyds Banking Group – with a Glasgow office hit by the cuts.
Hundreds of jobs at Lloyds have been axed[/caption]
The job losses hit a Glasgow office[/caption]
Staff claim the jobs have been outsourced from the firm’s business banking department, the Glasgow Times reports.
The workers will be transferred to work for Teleperformance under TUPE on May 1.
But staff claim the move only secures their jobs for 18 months and will see them lose out on other employment benefits such as mortgage rates and redundancy packages for people with years of service.
The loss of the mortgage rate has could see some monthly payments soar to unaffordable amounts, staff claimed.
One insider told the paper: “Lloyds have sold us to an outsourcing firm, a move that legally shifts staff to the new employer. This has caused dismay to workers who have dedicated their careers to the company and there is a lot of uncertainty now about the future.
“People feel totally let down and unprepared for what lies ahead. The transfer will happen on May 1 and that doesn’t give anyone much thinking time.
“Pensions and redundancy packages people expected after years—sometimes decades—of service will no longer be on the table.
“We have been given extremely short notice, effectively preventing us from seeking internal roles within Lloyds and the firm have made zero effort to help us find another job within the bank, leaving people with little choice but to accept the transfer.”
The move has been blasted by staff, with the worker branding it a “betrayal”.
Lloyds said the move is being rolled out to improve service for their customers and achieve “ambitious” goals.
A Lloyds Banking Group spokesperson said: “To achieve the ambitious strategy we launched in February 2022 and deliver a better service to our customers; we are transforming our business.
“We are really excited about the progress we have made, and it is already delivering benefits.
“To do this and move forward faster, we hired 10,000 experts last year to drive our transformation and we will continue to look at all options to ensure we are well placed to deliver for our customers.
“Making changes means not only creating new roles and upskilling colleagues in some parts of the business but also having to say goodbye to talented people who have been a part of the group’s success in the past.
“Where that is unfortunately the case, we will do everything we can to support them with the changes recently announced.”
Staff at the bank said they feel “betrayed”[/caption]
