Connect with us

Featured

TSB closures: Is your branch going to shut? | Business News

Published

on

TSB has revealed which of its 82 branches will be shut as part of a £100m cost-cutting drive that also threatens up to 400 jobs.

The closures, which make up about 15% of the overall number, is part of a three-year turnaround plan by the high street lender.

The bank said it would try to find alternative roles for those employees affected by the move.

Where staff do need to be lost, it would look for this to be done on a voluntary basis in a bid to keep compulsory redundancies to a minimum, it said.

TSB said it would continue to have a national network after the closures, with 65% of the population living within four miles of a branch.

Robin Bulloch, customer banking director at TSB, said: “We have made the difficult decision to close 82 branches, today announcing the locations.

“We will fully support customers through this transition.

“We realise this is difficult news for our branch partners and will do everything to support those affected to offer voluntary redundancies and redeploy as many people as we can to other roles.”

A man uses a TSB cash machine in Ashford, Kent
Image:
TSB says it will continue to have a national network after the closures

The move comes as the bank attempts to turn around its fortunes after last year’s IT fiasco, which left nearly two million people locked out of their accounts and led to the then chief executive Paul Pester to step down.

The overhaul sees the bank follow in the footsteps of its larger rivals like Lloyds and RBS by reducing branches and putting money into its online and mobile services.

The bank said it expects up to 80% of its sales to be digital by 2022, compared with 46% in September this year.

TSB also said it currently has twice as many branches per 10,000 customers than competitors.

With customer behaviour changing, it made the existing network difficult to maintain, it said.

A detailed review and analysis was carried out in deciding which branches to close, including usage, proximity to other branches, the needs of vulnerable customers and accessibility to alternative services such as free to use cash machines and the Post Office, the lender added.

Here is the full list of branches due to shut in 2020, and the planned month of closure:

North:

  • Wigton (June)
  • Newcastle Upon Tyne – Chillingham Road (September)

North West:

  • Urmston (June)
  • Chester (June)
  • Chorlton, Manchester (October)
  • Congleton (October)
  • Warrington – Penketh (October)
  • Leyland (November)
  • St Annes-on-Sea (November)
  • Ormskirk (November)

Yorkshire/Humber:

  • Headingley, Leeds (February)
  • Thorne (April)
  • Skipton (May)
  • Hull – Willerby (May)
  • Normanton (May)
  • Todmorden (June)
  • Brough (July)
  • Market Weighton (July)
  • Shipley (November)
  • Harrogate (November)

East Midlands:

  • Leicester – Cavendish Road (May)

East:

  • St Albans (September)
  • Ipswich – Felixstowe Road (September)
  • West Midlands:
  • Birmingham – Great Hampton (April)
  • Coventry – Walsgrave Road (April)
  • Pershore (May)
  • Cannock (September)
  • Rugby (September)
  • Warwick (September)
  • Birmingham – Stirchley (September)
  • Lichfield (October)
  • Stourbridge (October)
  • Coventry – Jubilee Crescent (November)
  • Leamington Spa (November)
  • Sutton Coldfield (November)
  • Bearwood Road Smethwick (November)

South West:

  • Moreton-in-Marsh (May)
  • Okehampton (May)
  • Stroud (June)
  • Poole (October)
  • Salisbury (October)

South East:

  • Abingdon (April)
  • Burgess Hill (April)
  • Sidcup (June)
  • Amersham (June)
  • Guildford (July)
  • Ashford (September)
  • Woking (September)
  • Redhill (October)
  • Basingstoke (October)
  • Worthing (October)
  • Fareham (October)
  • Cowley (November)

London:

  • Elephant and Castle (February)
  • Holborn (May)
  • Finchley (June)
  • Barkingside (September)
  • Wandsworth (September)
  • Bayswater (September)
  • St James’s Park (September)
  • Chingford (November)
  • Gidea Park (November)
  • Old Street (November)
  • Twickenham (November)
  • Potters Bar (November)

Scotland:

  • Barrhead (April)
  • Glasgow – Govan (May)
  • Bishopbriggs (May)
  • Milngavie (May)
  • Dunbar (May)
  • Portobello (May)
  • Jedburgh (May)
  • Kinross (May)
  • Tain (June)
  • Uddingston (June)
  • Edinburgh – Clerk Street (July)
  • Carluke (July)
  • Brechin (July)
  • Dumbarton (July)
  • Clarkston (July)
  • Edinburgh – Morningside (September)
  • Wishaw (September)
Advertisement Find your dream job

Trending