TSB to phase out cashiers; hundreds of jobs at risk

TSB CEO Debbie Crosbie

TSB Bank plc has told its cashiers their jobs will be phased out early next year after a big decline in customers banking at branches amid the COVID-19 pandemic, staff union TBU told Reuters on Monday. 

According to a staff memo, affected staff were told they would have to retrain for more complex roles helping customers to open accounts or to use digital services or take voluntary redundancy.

A total of 929 staff are affected.

TSB’s Spanish parent Banco Sabadell said in July that it was looking at accelerating cost-cutting at TSB after its subsidiary reported a statutory loss before tax of £65.5 million for the first half of 2020.

“TSB was already facing major cost problems and this looks like them jumping on the bandwagon, using the pandemic as an excuse to get rid of these roles,” said TBU General Secretary Mark Brown. 

“They don’t know whether people will return to branches once this pandemic is over.”

TSB said in a statement: “The way customers use their banks is changing and COVID-19 has significantly accelerated the use of digital services.

“When customers visit our branches, their needs tend to be more complex and we need a fully multiskilled and flexible workforce to meet them.

“This is why we are offering some branch colleagues the opportunity to upskill to take on broader customer service roles or take voluntary redundancy.”

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Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.