Bad day for the finance sector

In another bad day (October 6) for the finance sector job losses are announced in finance firm LV and JN bank. The moves have been roundly condemned by Unite.

In the first case Unite is demanding that Allianz UK step in and stop job loss chaos at finance firm LV.

Unite, the recognised trade union in Allianz and LV, has expressed anger at numerous failures by LV in its blind determination to cut 350 staff.

The union has called on Allianz (which now owns LV) management to halt the chaotic process currently underway which could result in nearly 350 unnecessary job losses from LV in Birmingham. As a result of numerous failings by LV, Unite will today launch a consultative ballot of its membership ahead of this dispute escalating.

“Allianz must now step in and get its house in order before LV go too far in this chaotic and damaging job loss consultation,” commented Ian Methven, Unite regional officer.

“Unite has been left with no choice but to ballot its Birmingham workforce following the complete failure by LV to conduct meaningful discussion with the recognised trade union.

“Despite all the evidence amid a global health pandemic LV has claimed that homeworking is not in the culture of LV and consequently 350 experienced and skilled employees face losing their livelihoods.

“Allianz must stop this shambolic consultation and hold LV to account. There is no justification for preventing these hardworking staff continuing to do their jobs and serve customers.

“Not only have LV failed to give the union accurate job loss numbers, they have been unable to show justification for job losses or any cost savings.

“Staff across Allianz have understandably come to expect higher standards of employee relations from their employers. Allianz management cannot continue to stand aside while LV destroy employee confidence any further,” he concluded.

LV became part of the Allianz Group in 2019. Legal & General TUPEd its’ General Insurance business in Birmingham to LV in Jan 2020. Unite has today started a two-week consultative ballot with its members across Birmingham.

And Unite believes JN Bank is walking away from their UK customers with its announcement today of the closure of all the UK Rep offices next month, marking the end of their relationship with thousands of UK customers.

Unite, the recognised union at the bank has called on JN to abandon these damaging plans which will leave their loyal UK customers without any point of contact within the UK and result in all staff in London and Birmingham losing their jobs.

“Unite is appalled by this unilateral decision to close all the JN Bank Rep offices in the UK,” commented Steve O’Donnell, Unite regional officer.

“This plan has been formulated with no discussion with staff or customers. These damaging proposals will mean that from November customers will have no means of face to face contact with JN as they move their operations online and to Jamaica.

“Unite has made numerous counter proposals to management which would ensure that all 16 staff are not dismissed. Throughout lockdown staff and customers were told that the JN Bank offices will be opening in new premises in Brixton. This was all false as staff will all be dismissed as the job retention scheme finishes.”

JN Bank has announced the closure of its UK Rep offices in London and Birmingham with effect from November 1.

By Saba Edwards