August 9, 2007

Job losses at Cheltenham and Gloucester

There is some bad news for both customers and employees of the Lloyds TSB owned banking group Cheltenham and Gloucester as the group are set to close down 31branches with immediate effect and there is the possibility of more to follow.

As expected the Lloyds TSB group union are saying that the closures will effect around 15% of the total branch network, and the job losses are expected to come from the group and branch management. However this is normally the first step, as the staff are normally offered a position in another branch, but this is normally impractical due to travelling and family commitments etc.

There is a growing trend for large banking organisations to try and close down branches, but this does cause some very angry customers to voice the opinions.

Source [Guardian]

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