Accord’s Sell Out Saves TSB £18 Million

Nov 20, 2018 | All Members

TSB will save itself £18 million following the agreement reached with Accord on the Recognition Award. We expected that TSB would seek to recover some of the costs of the IT debacle from staff benefits. What we didn’t expect is that Accord would help them do it. TSB...

£1,500 Slap In The Face For TSB Staff

Nov 16, 2018 | All Members

In recognition for all their hard work in saving TSB from total collapse, staff have today been offered a measly payment of £1,500. After tax, that payment will be worth just over £1,000 to the average member of staff, which equates to £6.06 per working day since the...

The Cost Of TSB’s IT Meltdown: £259,191,231

Oct 31, 2018 | All Members

That is how much the botched IT migration has cost TSB so far according to the latest set of financial results. TSB made a £120.5 million loss for the nine months to September. On the back of the meltdown, Sabadell, TSB’s owner, has seen its share price fall by 24%...

Union Wins Landmark Legal Case

Oct 26, 2018 | All Members, GMP Court Case

Well, we’ve done it again. In the most anticipated pension case in 30 years, the High Court has ruled today that the Lloyds Banking Group pension schemes must equalise guaranteed minimum pensions (GMPs) for men and women. The outcome of this case will have profound...

Answer The Questions Ms Lock

Oct 19, 2018 | All Members

TSB announced recently that it was extending the heritage Lloyds TSB enhanced severance terms. The HR approved Unions claimed that such an agreement was an example of positive engagement. It was nothing of the sort. The legal position is such that the heritage Lloyds...

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