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LTU To Set Up Voluntary Severance Register
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Date: 5th Oct 2009
The Bank has announced 10,500 job cuts so far, mainly in non-branch locations, and we expect the scale of job losses to continue well into next year. Members will recall that at the time the Lloyds HBOS merger was announced some analysts were predicting that the total number of job losses would be between 20,000 – 40,000 over three years.
Inevitably thousands of staff are going to be offered voluntary severance and will be pleased to leave the Bank. Thousands of others without jobs will be faced with the spectre of compulsory redundancy in the worst recession in recent times. LTU’s aim throughout this period of uncertainty is to ensure that all possible steps are taken to avoid the need to make any member of staff compulsorily redundant.
To do that we’ll be launching our own Voluntary Severance Register for staff in non-branch areas, where almost all job cuts have fallen so far. Branch staff will not be included in the Register at this stage because differences between jobs mean that it would be difficult in most cases to redeploy non branch staff in the branch network.
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