TUPE: Protecting Enhanced Severance Terms

In 2018, we were contacted by a number of members who, a number of years ago, had been transferred under the Transfer of Undertakings (Protection of Employment) Regulations 2006 (TUPE) from Lloyds Bank to Mitie.Mitie had announced that these staff were to be made...

300 Advisers Going To JV

“300 or so advisers” will be transferred across to the new Joint Venture with Schroders according to George Culmer, Chief Financial Officer, Lloyds Bank. Mr. Culmer let the cat out of the bag when he was responding to a question from an analyst following 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%...

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...

Carry On Banking

In the Q&A for staff produced when TSB announced it was setting up ‘customer hubs’ to deal with the unprecedented levels of customer complaints, the Bank said that staff in branches shouldn’t worry about leaving colleagues in the lurch because it would deal with...

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