The legal position is such that the heritage Lloyds TSB severance terms are contractual and don’t need to be extended because there is no expiry date in the first place. Ex-Lloyds staff are entitled to those enhanced terms indefinitely and if TSB ever attempted to walk away from its obligations it would face legal action from TBU in the High Court immediately: that would be action, it knows it would lose.
Some members will have received a letter from Ms. Rachel Lock, the outgoing HR Director, regarding the Bank’s job security policy and severance terms. In her letter Ms. Lock, who fails to address directly the specific questions raised by members, says: “we don’t normally agree any matters relating to bank-wide policies or contractual issues on an individual basis”.
The Union has produced a further letter for members to send to Ms. Lock, which hopefully she’ll answer before she leaves the Bank, saying:
“…..my individual contractual rights are not conditioned by any collective agreement. My contractual relationship is with TSB.
I would be grateful if you would confirm that my heritage Lloyds TSB enhanced severance terms form part of my contract of employment. Furthermore, I would also be grateful if you would confirm that, if my heritage Lloyds TSB enhanced severance terms are contractual, which they must be given that TSB confirmed that at a recent Employment Tribunal hearing, there is no expiry date for those terms unlike for my heritage HBOS colleagues.
If you don’t address the questions I have raised above within 10 working days your silence will be deemed to be acceptance that the heritage Lloyds TSB enhanced severance terms and job security policy form part of my contract of employment and there is no expiration date. I would be grateful if you would ensure that a copy of this letter is filed with my contract of employment”.
The letters will go out over the next few days and we would urge members to send them to the HR Director in order to protect their contractual rights. Members with any questions can contact the Union’s Bedford Office on 01234 716029 or email us at email@example.com.