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23rd November 2009 - 800+ Lloyds job losses

It has been announced today that:

  • Equitable Life plans to end its contract for the provision of administration services with the Lloyds Banking Group. HCL Technologies (HCL) will be appointed as their new third party administrator and the impact is that 340 Lloyds Banking Group roles based in Aylesbury will transfer to HCL under the Transfer of Undertakings (Protection of Employment) Regulations in March 2011. Equitable Life and HCL have today announced their intention to retain about 100 roles in Aylesbury.
  • Lloyds Banking Group plans to remove approximately 570 life, pensions and investments administration roles from its Aylesbury offices by the end of 2011 as part of the changes that were announced by the Insurance Division on November 10th. 
  • These decisions combined will result in a net loss of more than 800 roles in Aylesbury by the end of 2011. A copy of the Bank's press release giving more detail is available here.  

Reacting to the news, Ged Nichols, General Secretary of Accord, said: 

"Today's announcements are a body-blow for the workforce and for Aylesbury particularly as the Lloyds Banking Group is the largest private sector employer in the town.

Accord's main concern is to avoid compulsory redundancies arising from any part of today's announcements. The terms and conditions of employment for those staff who Equitable Life is proposing to transfer to HCL is also a priority.

Given that we have more time than is usually the case when announcements of this kind are made, our expectations of the employers are high and we will be having early meetings with the Lloyds Banking Group, Equitable Life and HCL.

We are currently seeking legal advice about the proposed transfer of staff. We will have a team on site in Aylesbury with members this week to gauge their reactions and determine what other steps may need to be taken. Accord will be providing full support to every member affected by today's announcement."

The Union has written to all members who are impacted by today's announcements expressing disappointment with the decisions made by both ELAS and the Lloyds Banking Group in terms of the impact on employment - but we will focus on supporting our members at this difficult time.

We have already been engaged in talks about how members' interests can best be protected in line with the Security of Employment Agreement and / or under the Transfer of Undertakings (Protection of Employment) Regulations. Accord's legal advisers have already been instructed to enable us to take all necessary steps to uphold members' rights.

The Union's main concern is to avoid compulsory redundancies arising from any part of the announcements.  Given that we have more time than is usually the case when announcements of this kind are made, our expectations of the employers are high and we will be having early meetings with the Lloyds Banking Group, Equitable Life and HCL.

We have had limited talks with HCL already and will be having more to ensure that those being transferred will be treated fairly. We will be addressing the terms and conditions of employment for those staff who Equitable Life is proposing to transfer to HCL and we will do everything we can to support members who may be at risk of redundancy before or after the proposed transfer.

We are committed to supporting members through the change programme and Accord officers will be available in the Atrium in Aylesbury AOF2 on Thursday, November 26th.

Any comments or queries should be referred to info@AccordHQ.org 

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