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Newsletters

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...

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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%...

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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...

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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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Dark Clouds Over IBM?

  Last year Lloyds Bank announced it was outsourcing 1,900 jobs to IBM. A significant number of the jobs transferred to IBM will eventually be offshored to India. IBM and Lloyds signed one of the largest cloud transformation deals with most staff working in...

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Who Really Runs TSB?

  TSB staff will be egregiously offended by Josep Oliu, Chairman of Sabadell Bank, complaining about the fact that he lost a few nights’ sleep at the height of the IT meltdown when they have constantly been under pressure for months trying to deal with the fallout...

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What Price Failure?

  You almost ruin TSB, shred its reputation, destroy the brand, cause an avalanche of customer complaints, lose £176 million+, put your staff through the shredder for months and you walk away with £1.7 million. That’s the price of failure in TSB.When asked about Mr....

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No More Pester Power

  In a recent Affinity survey, 77% of members said that Paul Pester did not have the full support of staff.Today, ironically 24 hours after another IT meltdown, the Bank announced that Paul Pester, TSB’s Managing Director, will be leaving with immediate effect....

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Are The TSB Severance Terms Contractual?

  Before we answer the severance question, let’s talk about TSB’s day of reckoning. On the 27th, TSB and Sabadell will publish their Q2 2018 results. Notwithstanding the spin from Barcelona and Gresham Street, they are going to be a disaster. The question is how much...

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What’s Going On In TSB?

  You couldn’t make this stuff up if you tried. For the past few months staff in TSB have been on their knees doing everything they possibly can to save the Bank. Staff have been working round the clock to ensure that customers are looked after and that’s despite the...

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The Reading Scandal

  It reads like a John Grisham novel! An internal Lloyds Banking Group report called “ Project Lord Turnbull Report” was published on Tuesday and alleges serious misconduct by the Bank over the handling and disclosure of fraud on an industrial scale at the HBOS...

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450 More Jobs To Go

  Lloyds Bank have announced a further round of job cuts across the Group with the loss of another 450 jobs. The jobs that will be going are in Commercial Banking, Group Finance, Group Services, Retail, Retail Legal and Transformation.These job losses will have been...

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Mental Health and Ethical Working Practices

“When an employee breaks a leg or suffers an infection, we know how to respond. Mental health should be dealt with in the same way. With a culture of adequate support and sufficient time off, an employee can return to work with confidence and without embarrassment.” ...

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Mr Pester Goes To Westminster

  It will become a case study in how not to give evidence to a select committee of the House of Commons. Trying to be funny in front of MPs when thousands of their constituents are having difficulties accessing their bank accounts was not going to win Mr. Pester any...

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Compensation For The Staff Mr Pester?

  TSB’s botched IT meltdown has entered its second week and as many as a million customers are still locked out of their accounts. If this disaster continues much into this week, drastic action will need to be taken and those decisions may be taken out of the hands of...

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Is It Time To Go Mr Pester?

  According to TSB customers can now access their accounts on mobile and internet platforms according to the Bank’s website.  However, TSB has limited the number of people who can access their accounts at any one time, because it expects a surge in customers trying to...

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Restrictive Covenants

The Problem This subject is undeniably dry and the implications for most people will not be obvious! Yet, whether they realise it or not, restrictive covenants are a major issue in the employment contracts of many of our members. I said in my last newsletter that it...

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Contract Checking

The Problem Starting new jobs can be exciting if challenging and quite rightly most people approach them with enthusiasm and optimism. No one wants to put a damper on that but there are some realities that it’s worth thinking about before starting a new job. If you...

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Employment Tribunal Victory

The Union has won an important Employment Tribunal case for a member sacked by Lloyds Bank. Although the case involved Lloyds, all members should spend the time reading what happened because the case demonstrates very clearly how many companies fail to deal fairly...

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Advice And Representation – The Need For Speed

• “I never thought they would do it to me.” • “I didn’t expect it to go any further.” • “I thought I could trust my manager.” • “No one told me they thought I was an under-performer.” We hear these comments every week and are not surprised by members’ reactions when...

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Affinity Newsletters

Affinity’s Newsletters provide you with a regular source of important information that’s easily accessible and understandable.

To receive copies by email simply send your membership number and email address to 24hours@workaffinity.co.uk

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