Sabadell’s TSB plans 250 job cuts, 36 branch closures

TSB, the UK banking business of Spain’s Sabadell, is planning 250 job cuts and 36 branch closures.

Sabadell has just turned down a takeover offer from larger Spanish rival BBVA.

The likely redundancies are expected to fall in the bank’s fraud operations, central operations and across TSB’s branch network, Unite the union said.

The proposed job losses come just three months after TSB announced plans to cut around 300 roles in its Risk & Finance, Customer Banking and Customer Delivery teams.

“To meet changing customer needs and for TSB to remain competitive, we are making changes to simplify the way we operate,” a TSB spokesperson said.

“These decisions are never taken lightly. Our priority is to consult with impacted colleagues to ensure they’re fully supported, maximising redeployment opportunities where we can.”

Unite regional officer Andy Case said: “The decision by TSB to cut 250 roles is a grave mistake. These workers perform essential work in the fraud departments and across the branch network.

“Through extensive negotiations Unite has been able to substantially reduce the number of jobs at risk.

“However, that isn’t sufficient, the union is pressing TSB to urgently reconsider its damaging bank branch closures plan.

“At a time when customers are increasingly concerned about financial fraud and often need support from a local bank branch this is the wrong course of action.

“TSB customers will rightly be concerned by today’s news and they will undoubtedly suffer a downgrade in service from these job cuts.

“Unite will hold fresh negotiations with TSB about ways of further reducing job losses and it will be fully supporting its members affected by the announcement.”