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....
TSB Branch Closures
TSB is set to announce the closure of 14 branches following the biggest IT meltdown in UK corporate history. It is also planning to reduce the opening times for many branches in an attempt to reduce costs. Lloyds Banking Group adopted a similar strategy and that...
TSB’s Triple Whammy
When is an agreement, not an agreement? When it’s an embarrassment! Accord says it’s not agreed to TSB’s 2% pay offer. TSB says that both unions “agree the principles and approach for the 2019 pay increases”. Call me naive but is that not an agreement by any other...
More Pay Misery For TSB Staff
Members should ignore those, like Accord, who are arguing that staff should take into account TSB’s ‘ability to pay’ when considering its pay offer of just 2%. That argument would be more persuasive if TSB had awarded staff cost of living increases in the good years....
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