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Bank Announces 1660 Job Losses and Closure of C&G Branch Network
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Date: 9th Jun 2009
C&G has today announced that its entire Branch Network will close on 6th November 2009, together with a number of further substantial changes to the Group’s Mortgages operations.
All 928 C&G Branch Network Staff have been issued with letters notifying them that their jobs are at risk of redundancy and that though the Company will take steps to find staff alternative roles, compulsory redundancies will be inevitable.
This announcement has accompanied news that on 1st July the Lloyds Banking Group will be cutting its core intermediary mortgage brands from eight to four; scrapping the Bank of Scotland and Intelligent Finance intermediary brands. This will result in 159 further jobs being made redundant.
The Bank has also said it plans to operate from fewer mortgage operations sites. Whilst it has said that Barnwood is guaranteed a role in the future - though with no certainty how many staff it will employ - it has announced the closure of a HBOS site at West Kent with the loss of 105 jobs. There must now be serious concerns about the future of Scunthorpe Mortgage Unit.
With thousands of UK-based staff to lose their jobs, it is unacceptable that C&G continues to insist on keeping over 635 jobs in its offshored operation in India. LTU will be lobbying MP’s and building pressure in the media to force the Bank to move jobs back to the UK in order to secure the jobs of many hundreds of existing staff in the UK - such as in Barnwood, Scunthorpe and HBOS’s many sites - whose jobs are at very real risk of redundancy.
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