Archive for the ‘Finance sector news’ Category
Petition to Save L&G site in Kingswood
Monday, January 25th, 2016
Our Finance sector colleagues in L&G have recently voted to take industrial action to save the closure of their Kingswood, site in Surrey. 67% of members voted in favour of taking Industrial Action short of a strike.
The dispute follows L&G’s decision to threaten 1,550 jobs by closing the profitable Kingswood site in 2017, citing potential cost savings. Unite has been campaigning since September to keep the site open and in response L&G have postponed the closure of Kingswood until 2018 and have offered some staff the option of relocation to sites across the country.
Unite Regional Officer Ian Methven, said:
“Unite is calling on Legal & General to work with Unite to explore all options that can keep Kingswood open. Closing the site will not only cost 1,550 people their jobs, it will devastate the surrounding community. We are grateful to the local businesses and politicians who are supporting our campaign to defend Kingswood and all the jobs that rely on it.”
L&G reps have also created a petition that will be sent to the L&G Board asking for the closure plans to be scrapped. The Senior Rep at L&G, Pam Edwards has asked Unite members and L&G customers to sign the petition as an act of solidarity with their members taking action to save their jobs and the Kingswood site.
Steve O’Donnell, Senior Rep at Prudential is asking Prudential colleagues to show support for our colleagues in L&G and sign the petition which is below.
http://you.38degrees.org.uk/petitions/legal-general-save-the-kingswood-office-1
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Finance Sector E-Bulletin for December
Thursday, December 18th, 2014
The Finance and Legal E-Bulletin for December is now available by clicking the link below.
It gives you news of what is happening in other Companies within the Finance Sector.
Within Prudential as we are currently in the middle of pay talks and other consultations we had nothing concrete to report for this edition but hopefully we will have something for the next edition which is due out at the end of Q1 2015.
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Finance Sector Update
Wednesday, June 5th, 2013
Detailed below is an update from other Finance Sector companies about what is happening in their organisations
Aviva
Membership and organising
Membership levels increased significantly last month following the announcement that redundancy terms were being cut by the company. Scotland sites have recently been included as regional 100% site and we are supporting the activity. We have already seen a steady increase in membership.
Job losses/redundancies/closures
Consultation has started on the UK job losses announced last month; 600 of these will be offshored. Further announcements will follow.
Industrial Action
Last month we surveyed staff to test the water re any action we take. The results (over 1500 responses) are still being analysed but initial responses show that staff want Unite to represent them in collective bargaining. So we are running an e-petition which will be distributed to all staff asking them to sign it and support us by stating their views on who they want to represent them on terms and conditions. We will use this to gauge support on Unite going for a ballot on formal recognition.
Skills/Training and Learning
Regional Pilot in North East, Yorkshire and Humberside region under discussion with RLO.
Other Activities
We are working on this year’s EWF meeting and on updating the constitution.
AXA UK
Recruitment and organising initiatives
Campaigns are still underway in Morecambe and we are gaining members as a result. Since the beginning of the 100% campaign membership in Morecambe has grown by 95%. We are also seeing a steady rise in members at our other 100% campaign site in Bolton. Elsewhere it is a similar story in that we are getting a small increase in membership as each main site now has organising plans in place.
Current negotiations
Consultation on the defined benefit pension scheme is still continuing. The Company want to close the scheme and put members into the DC scheme without any compensation for closure. We sent a survey for all the DB members to complete and we have had well over 1000 responses to date. There are a lot of angry people out there and we are still pushing for alternatives to closure.
Unite is still in consultation with Commercial over a change of hours at one of their sites. We had a meeting with members in the site involved in this and due to the strength of feeling we have managed to defer agreement until we have held further discussions with the Company.
In the Corporate centre 39 staff are to be made redundant with a further 76 transferred to other parts of AXA as part of a cost cutting exercise.
Industrial relations with management
Industrial relations are not at their best at the moment with issues in every part of the business. The new ER Manager is to take up post on June 3 so hopefully we can get an early meeting with her to obtain some stability and agree the best way to tackle the issues we have.
Offshoring Update
11 roles are transferring to our business in India as part of the job losses highlighted previously in the Corporate centre.
Barclays
Membership and organising
Week commencing 22 April was recruitment week where a number of Reps were seconded for a week to go out recruiting. Initial feedback from this event is good.
Industrial Developments (including pay and pensions)
Unite has been consulted on the first tranche in the employment policy review. This included many of the most important policies – Redundancy, Maternity, Paternity, Sickness, Disciplinary, Capability and Grievance. We were able to make significant changes to the initial proposals. The result is a package that we have accepted – there are winners and losers but in some policies like Redundancy, the majority of our members will see an improvement over the current policy.
Job losses/redundancies/closures
We continue to work to mitigate job losses following the announcement of the closure of the Manchester Contact Centre and the movement of work to Liverpool reported last time.
A reduction in roles has been announced in Mortgage Services, Leeds. The vast majority of roles in East Parade (Leeds) will move to Millshaw Court (Leeds). In Millshaw Collection and Recoveries, 151 roles will either move to Manchester or be at risk of redundancy. 76 roles are being brought back on-shore from India. We are hopeful that the operation of a VR register, the release of Temp staff, and the on-shoring will mean that most staff who want to be redeployed will be accommodated.
Skills/Training and Learning
We aim to hold a section event base around training in 1st half 2014.
Pay
Responses have flooded in for our pay survey. This will inform our strategy in pay talks around the middle of this year.
BGEF (EWC) – Barclays has announced significant job cuts in Italy, Portugal, Spain and France. The BGEF has been closely involved in the discussions that have followed. Talks between Barclays and staff Reps in Italy and Portugal seem to be progressing in a satisfactory way. A way forward in Spain now appears to have been found after some significant initial difficulties. In France the unions await a decision on their legal challenge.
Co-operative Bank
Membership and organising
Unite held an open day in the Stockport office where we acquired several new members and 3 new reps.
Industrial Developments (including pay and pensions)
Moody’s credit rating agency downgraded the bank by six points. The Co-operative Group Chief Executive was replaced earlier than planned and the Banking Group CEO has stepped down. Niall Booker (ex HSBC) has been appointed as the new CEO. We are expecting wholesale changes as the business seeks to divest itself of non-core business. All in all our workload is set to increase dramatically.
Job losses/redundancies/closures
Unity organisational design (ODs) continue with IT currently in the firing line. Once again much of the IT function is due to move to Manchester – a real issue for some colleagues based in Skelmersdale, some 30 miles away.
Equalities Action
Information was distributed for IDAHO day and a rainbow flag flew from the Miller Street, Manchester. HQ!
Skills/Training and Learning
The ULRs are becoming more active. Adult learner week is being plugged at Stockport and in Manchester. We are waiting for a response from the business regarding the breadth of our remit, but as they have ‘all gone quiet’ we are proceeding to arrange training for learners.
HSBC/First Direct
Membership and organising
The membership within the clerical grades continues to decline slowly. Within the Bank action has been taken through both training and recruitment of some new reps to attempt to slow the tide.
Industrial Developments (including pay and pensions)
As previously reported the bank is continuing with its proposals to close the defined benefit pension scheme to active members along with the introduction of new terms affecting the majority of members many of which are negative.
Extensive consultations have been continuing and whilst the core goal of maintaining the DB scheme looks unlikely, significant improvements now seem probable. A fuller report will be available post the 11 June when the final position is known. The HNC at its meeting last week agreed on a level of settlement they felt could be recommended. Both the FD council and the Unite managers forum have reached a similar position.
Job Losses
The bank’s proposal to lose over 3000 jobs and create some 2000 new roles has proven to be a difficult issue to handle where many members were not willing to take on the potential new roles. However it is likely that from a potential loss of the 3000 we are entering into a situation whereby this number is closer to 1100 giving the affected members up to 4 months to seek redeployment elsewhere in the bank.
Industrial Action
Whilst the threat of industrial action has caused something of a seed change for the employers approach on a number of issues, there is currently no action planned to commence immediately.
Equalities Action
2 days of the recent HSBC workshop was handed over to the provision of a stress awareness course which was well received by the attendees.
Strategic Plans
It is intended to use the disharmony created by the employer as a catalyst for an organising campaign using the new reps who in the main, have become active as a result of the bank’s actions.
Skills/Training and Learning
Apart from the training identified above, agreement has been reached with the bank to supply diploma level training to those staff being employed within the regulatory parts of the business where entrants will benefit from both time off to study (beyond recommended levels) and an opt-out should they feel unable to complete.
Other Activities
We are currently in a series of elections for most of the senior reps.
Lloyds Banking Group
Organising and Recruitment
Unite has provided support for campaigns in a number of sites within LBG including Dunfermline, Speke, Warrington and Chester. It is hoped that the election of a rep in the contact centre in Sunderland will see membership growth in the coming months.
LBG NCC is looking to support reps to rejuvenate union branches throughout the UK or set up LBG workplace branches.
Pay
Unite raised a question on low pay/living wage at the Group’s Shareholders’ AGM. In addition, Unite will be issuing a pay survey similar to the ones used recently in the insurance companies once the findings of the Group’s recent survey are known. Unite also pursued the 2013 pay campaign offshore whereby negotiations took place under the auspices of JACS. At the end of negotiations, the Group once again imposed the pay proposal.
Equalities
Unite has continued its campaign to call on Lloyds Banking Group to undertake a joint equal pay audit at every opportunity including at the Shareholders’ AGM.
In addition, Unite is supporting Retail Division’s Telephone Banking National Colleague Development Week in the East of Scotland by holding bullying and assertiveness skills sessions for participants.
Job Losses
The Group announced a further 850 job losses in mid-May bringing the total to 2,750 this year so far. These losses are part of the Group’s strategic review which was announced in June 2011 whereby there would be 15,000 job losses. The major impact of the recent announcement is the closure of the Southend site which will see the loss of over 700 jobs. Unite is working closely with the Group to make every effort to find staff alternative work in the local area. This includes liaising with competitors and working with the Unite learning organiser.
In addition, the Group also announced the end to the joint venture with Sainsbury’s. This will result in 250 staff being outsourced to Sainsbury Bank over the next 3 years. Terms and conditions negotiations are going to begin in June.
Project Verde
Following the collapse of the deal with the Co-op Bank, a meeting has taken place with the Verde CEO. The identified business areas will be delinked from the Group in mid-August and will be branded as TSB. The LTSB branches will, at the same time, be rebranded Lloyds. The Group is also in negotiations with the European Commission to seek an extension of the sale from November 2013 till mid 2014 where it is likely that the business will be floated. Negotiations on terms and conditions will also likely take place over the summer.
Shareholders’ AGM
In addition to the questions on pay and equal pay, Unite also raised the issues of the sales culture, offshoring and agency workers.
LTU
LTU continues to issue newsletters which are either lies or incorrect about Unite. Unites’ decision to ignore the jibes is however becoming frustrating to reps as the LTU newsletters are becoming more frequent and more vicious. More recently LTU has sent letters to two Unite reps home addresses trying to poach them by criticising Unites’ political stance. Data Subject Access Requests (DSARs) have been sent to LTU and complaints by the reps have now been lodged with the Information Commissioner’s Office.
National Australia Group
Membership and organising
Our 100% campaign efforts continue in both Scotland and Leeds with a steady increase in membership. Activity has been arranged this month at Leeds and Glasgow Head Offices around adult learner week where there has been a re-launch of the learning agreement with a focus on recruiting new ULRs to role. NAG has also posted our learning survey on their intranet site and we are currently collating responses. Plans are also in place for the Open University to visit both sites in June and we have secured time off for members to attend group presentations to find out about the learning opportunities on offer. We also had a good uptake on the OU Access to Learning offer that we advertised to members on low incomes which allows them to study and gain OU credits towards a future degree course.
Industrial Developments (including pay and pensions)
No significant developments this month. NAG UK reported their half yearly results with a welcome return to profit of £54 Million after full year losses for 2012.
Job losses/redundancies/closures
There has been no job loss announcements this month. However we continue to be involved in ongoing consultations and business as usual meetings though the bulk of the strategic review announcements have now concluded. We also continue to have regular redeployment meetings where we have an opportunity to challenge the bank and keep the pressure on them to redeploy as many at risk staff as possible thus avoiding CRs. Whilst there has been some successes and the outplacement services offered by Penna have been widely used and proved beneficial, overall the number of CRs remains fairly high. This is largely due to geographical constraints and in the case of the recent Wealth announcement, the closure of the entire business with very few redeployment opportunities available.
Retail Bank Update
Following the data gathering exercise into changes in retail opening hours, the bank has now commenced a pilot on extended hours and Saturday opening in a number of branches in Scotland and England. We will be fully consulted on the outcome of the pilot before any decisions are made about changing branch opening hours more widely or on a permanent basis.
The bank also announced the closure of their Cults branch in Aberdeen with all impacted staff redeployed to another branch.
Equalities Action
The Equal Pay audit agreed as part of Pay 2013 is now underway. Two meetings have taken place which focused on scoping out the audit and commencing the data gathering. The bank is equality proofing their incentive schemes as part of this exercise.
Strategic Plans
The NAG Team’s continue to focus on 100% campaigns and supporting our members impacted by the Strategic Review. The recruitment and campaigning activity for the second half of this year is shaping up with recent activity around the learning agenda.
Unite has been given a commitment to a meeting with the NAG UK CEO David Thorburn and it is likely that this meeting will take place next month.
Political Activity
At the recent STUC Congress the constructive industrial relations that Unite has with NAG was recognised as a good example of a Scottish based organisation that has developed and fostered good relationships with the trade union.
Skills/Training and Learning
A Stage 2 reps course took place earlier this month and it was fully subscribed. All arrangements for the forthcoming NAG Reps Conference are now in place with a variety of proactive activity based sessions and guest speakers arranged.
Around 70 NAG employees have now completed the Chartered Bankers Certificate Training in Scotland. Many of the staff that would never otherwise have had the opportunity to achieve this qualification have been able to do so free of charge due to the work undertaken by Unite and the STUC. Given the success, it is hoped what we can secure additional future funding to allow us to deliver further training.
Other Activities
The NAG Team also attended the NAG brand re-launch sessions. The new strap line and advertising campaign “we care about here” focusing on customer and the community is now underway.
The term of office of our current SWR for Scotland, Patricia Prior, comes to an end on 30th June. We have called for nominations from interested WRs in Scotland for a 3 year secondment effective 1st July.
Royal Bank of Scotland
RBS Retail UK
On the 16th May RBS announced a two year restructure programme which will result in up to 1,400 job losses across the UK Retail Division. The bank also announced details of Phase One of the programme which will account for around half of the programme job losses, at 700. The job losses are being experienced across the Retail Head Office and Support functions, with many of these departments having experienced restructures twice already since the demise of RBS in late 2008.
Some of the headcount impacts are significant, with one business case reducing headcount from 250 to 50. This is an 80% decrease in headcount. The bank claim that the changes will achieve a nimbler, leaner and more customer focussed structure which removes layers, duplication, introduces automation, increases spans of control etc; however it remains to be seen how such a structure can claim to be customer focused and work effectively.
The headcount reductions are countrywide, with concentrated impacts within Edinburgh. There are a number of measures agreed to avoid redundancies including compulsory redundancies. These are the first large scale redundancies within RBS that are subject to the Government’s change in Consultation Periods from 90 days to 45 days.
Policy
Disability Cover/Income Protection Schemes – issues are being experienced in respect of the Disability Cover/Income Protection Scheme that operates within RBS once group sick pay has been exhausted. This delivers 55% income for up to five years whilst remaining an employee of the Group. Even though the bank has recently changed insurer to Aviva, we continue to experience issues with the previous insurer Unum, including non-payment of the benefit due to eligibility issues and also the covert, video surveillance of members to demonstrate capability. There is significant dialogue on-going between Unite and RBS on this issue with a view to resolving these issues that undermine a fundamentally sound benefit.
Pensions
Member Nominated Trustees – the bank are due to commence the Member Nominated Trustee Elections for the Defined Benefit Pension Scheme. Nominations will be sought from next month. However there is an issue around a proposal for a panel to whittle nominations down to 20 to reduce the number of candidates on the ballot paper, which could include the removal of Unite preferred candidates. This is subject to on-going dialogue with RBS.
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