Following the announcement of branch closures last year, staff in those branches that were due to close had the option to ask to be redeployed into another branch, subject to a role being available. Some Local Banker As and Cs also had the option to register for Voluntary Redundancy. The results of that preference exercise were announced a few weeks ago.
Since then we have become aware that a small number of unscrupulous Area Directors, and they shall remain nameless for the time being, are using the Branch Distribution Review as an opportunity to downgrade Local Manager Ds and cut their salaries immediately. Those Area Directors are telling staff that because there are not enough Local Manager D roles available due to branch closures, individuals without a role will have to move to a role one grade lower and take an immediate pay cut. That is absolute rubbish. Those Area Directors are playing fast and loose with the bank’s job security policy and taking advantage of staff. This represents an indirect conduct risk issue under FCA rules – people who are prepared to behave dishonestly with their colleagues are likely to be prepared to behave dishonestly with their customers.
If you are a Local Manager D and there are no roles at your level because of branch closures, you can opt to take a lower graded role and your terms and conditions will be protected. There will be no salary reduction. If there aren’t any roles one grade lower, you could be at risk of redundancy on the agreed severance terms. The fact that there are not enough Local Manager D roles is not your problem, it is the bank’s problem to deal with.
Members who have been approached to move to a lower grade and take an immediate pay cut should contact the Union’s Advice Team immediately on 01234 716029.
Those Area Directors who are trying to exploit the goodwill of our members have been warned. If they persist in peddling lies, then we will name and shame them and, if that doesn’t work, organise local maildrops in their areas telling TSB customers about what’s really going on. They will be reported to the FCA. You have been warned.