Where Is The Missing £18 Million?
Before we deal with the missing £18 million, members would have read in the news that Sabadell’s Chairman, Josep Oliu, speculated that TSB could be sold once it’s returned to profit and the IT issues had been put right. He was reported to have said that TSB was to...
Accord’s Black Friday
It’s the agreement no one likes. Sound familiar? TSB staff have reacted with a combination of amazement and anger that an organisation with only a few hundred members, despite the financial support it gets from the Bank in the form of seconded staff to help with...
Leaflet Sent To MPs – Continuing It Problems
We recently sent the below leaflet to MPs. Please click this text to view a PDF of the leaflet.
Pensions Victory – The Making Of History
It’s a little known fact but the principle of equal pay for work of equal value, which was at the heart of our recent pension case, can be traced back to the Treaty of Versailles 1919 (Article 427), which brought World War 1 to an end. The fact that our pension case...
Accord’s Sell Out Saves TSB £18 Million
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
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
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%...
Press Release – Union Wins Landmark Discrimination Case
Please click here to view a PDF version of this press release.
Union Wins Landmark Legal 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
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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