Closing Branches In Scotland By Stealth
TSB managed to make a small profit in Q1 2019 but Sabadell has made it clear to Debbie Crosbie, the new Chief Executive Officer, that she needs to cut costs quickly and it looks like Scotland is going to take the brunt of this race to the bottom. A year-on-year...
Letter To MSPs Regarding TSB Branch Closures
Debbie’s Cost Cutting Regime
TSB has confirmed for the first time that its cost income ratio is too high and needs to be reduced significantly over the next few years if it’s to survive. A new Chief Executive is normally given a period of grace to devise a new approach, blame the previous job...
TSB Pay – The Good, The Bad & The Ugly
You know things are desperate when a union starts blaming its members for their lack of action or support. In an incredible admission of failure, Accord has told its members that it couldn’t do anything on pay this year because “Unfortunately, we only received...
Debbie’s Pension – What’s It Worth?
Some members will have seen the recent press coverage on pension allowances for chief executives. This campaign started when we wrote to the Investment Association criticising the pension allowance for Mr. Antonio Horta-Osorio, Group Chief Executive of Lloyds Banking...
Mind The Gap
TSB recently reported its April 2018 gender pay gap results in line with the Equality Act 2010 (Gender Pay Gap Information Regulations 2017). The Groups mean gender pay gap increased from 31% (2017) to 31.2% (2018). So, what that means is the hourly rate for women in...
Staff Cleaning Branches?
As we predicted, the new Chief Executive of TSB, Debbie Crosbie, has been given the job of slashing costs, including reducing staff numbers (with head office functions in London, Bristol and Edinburgh bearing the brunt of the job losses), closing branches and getting...
Open All Hours
Following our Newsletter a few weeks ago TSB has confirmed that it’s closing a number of branches and reducing the opening times for many more over the next few months. Peter Navin, the current Distribution Director, has said: “I am determined to use strategies such...
TSB Pay & Bonuses – The Missing Money
Pay is not settled yet regardless of what TSB and Accord might think. And nor are bonuses for that matter. According to the latest report and accounts, TSB was able to recover post-migration charges from Sabis, strategic IT partner of the Sabadell Group, for its part...
IT Meltdown Scuppers TSB’s Application For Small Banks Competition Cash
No matter how hard it tries TSB can’t get away from the consequences of the biggest IT meltdown in corporate history. Last week Metro Bank was awarded £120 million from a fund paid for by the Royal Bank of Scotland to promote competition in small business banking....
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