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Newsletters: Head Office & Group Operations
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Date: 10th Jul 2008 | Size: 39K
The Bank has announced that it is ditching plans to outsource its Trade Services processing operation to the Bank of Wachovia and that all staff expecting to leave on Redundancy Terms over the next 6-9 months will no longer be doing so.
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Date: 9th Jun 2008 | Size: 94K
There will be many important issues affecting Group Operations Staff working in Brighton, when next month the business unit starts transferring to new premises in Hove.
LTU is concerned that many staff may not be fully aware of their rights in deciding whether or not they have to transfer and the financial consequences of whichever position they take. In fact, many staff may have been misled concerning their rights under the Bank’s Mobility Policy.
In particular, some Group Operations Staff may have grounds for refusing to transfer to Hove. Where this is the case, the Bank will be legally obliged to make Severance Payments unless it can find suitable alternative roles closer to where staff live.
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Date: 27th May 2008 | Size: 46K
LTU has raised with the Bank serious concerns over how Group Operations Staff at Tonbridge have been treated. In particular, LTU has said it is intolerable that:
* Attempts have been made to coerce and force staff into changing their working hours, when in fact many have a legal and contractual right to retain their existing working hours and patterns.
* Staff should have been told they must make up time after being sent home early when - on 2nd May - builders cut through data cables serving the Tonbridge site. In these circumstances, staff certainly cannot be required to make up time.
For Centre Management to have acted in the heavy-handed way it has is completely unacceptable. LTU has demanded an explanation from the Bank.
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Date: 5th Nov 2007 | Size: 32K
Over the next four years there will be a cultural shift in the way Finance is dealt with across the Bank. The proposed changes include significantly increasing centralisation and an overall reduction in headcount by 2011 of approximately 20%.
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Date: 18th Jul 2007 | Size: 298K
Senior Management has announced that it is to offshore a large part of Trade Services to Wachovia Bank, based in Hong Kong.
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Date: 17th May 2007 | Size: 82K
In March, LTU issued a Newsletter providing guidance to members working at Ariel House who had incorrectly been told that they must extend their working days to accommodate compulsory Unpaid Rest Breaks. This instruction had been issued by the Bank on the basis of a basic misunderstanding of employment law.
Unfortunately, this misinformation was repeated two weeks ago.
We are pleased to report that the Bank has now accepted that these instructions are fundamentally incorrect and agreed that they must be withdrawn. Anyone who was wrongly forced to change their working hours can now revert to their original contracted hours.
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Date: 24th Apr 2007 | Size: 85K
The long-anticipated outsourcing of parts of Trade Finance has moved a step closer after Senior Management confirmed that it expects to reach final agreement with a third party in 2/3 months time.
Senior Management has confirmed that it has signed a preferred supplier agreement with the fourth largest bank in the United States, Wachovia Bank. Negotiations are now entering their final stages, with a contract concluding arrangements expected to be signed around late-June / early-July.
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Date: 20th Mar 2007 | Size: 81K
LTU has been approached by a number of members working at Ariel House Service Centre in Sheldon, who have been wrongly told by their Managers that they must extend their working hours to accommodate compulsory unpaid rest breaks.
This is a concern for staff who work reduced hours of more than six hours without a formal break and who are entitled to take a 20 minute unpaid rest break if they wish. Often these staff have chosen to work reduced hours in order to balance work and family responsibilities.
These staff have been wrongly instructed that rather than this being an employee entitlement under the Working Time Regulations, they are obliged to take the 20 minute unpaid rest break and, as a consequence, extend their working day by 20 minutes to accommodate it.
This management instruction is quite simply untrue and any member of staff who has been forced to extend their working day can revert to their normal working hours.
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Date: 7th Mar 2007 | Size: 0K
LTU has raised with Senior Management serious concerns over management style within parts of Essex House ... particularly in relation to the management of Sickness Absence, Time Off and Flexible Contracts.
The worst offending area appears to be Fraud, where little regard is routinely being given to the rights of staff or best practice.
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