irgin Money has revealed plans to shut 39 of its UK branches, in a move it said will put 255 workers at risk of redundancy.
It said the plan, which will take the banking firm down to 91 branches, was due to changes in customer habits, as people bank more online and less in person.
The company has said said for each store, customers will be notified and posters will be displayed at least 12 weeks before they close. Customers will also be informed of alternative ways of accessing their cash locally.
Sarah Wilkinson, chief operating officer at Virgin Money, said: “The decision to close a store is never taken lightly. But as our customers continue to change the way they want to bank with us, by conducting fewer transactions in-store and adopting the convenience of digital banking, we must respond to that evolving demand.
“Our focus is on supporting our customers and colleagues. We have considered the number of vulnerable customers using each store very carefully throughout the review process as a key factor in our decision making, and will proactively provide enhanced, bespoke care to ensure any vulnerable customers affected are supported through the changes.”
She added: “For our colleagues, we will pursue all options to retain as many as possible within alternative roles, and have had great success previously with store colleagues moving to other customer operations roles, as their skills are highly transferable.”
However, Unite general secretary Sharon Graham said: “This announcement of the closure of 39 vital bank branches has sent shock waves across the Virgin Money UK workforce.
“Today 260 skilled and experienced staff have learnt that they risk losing their livelihoods at a time of deep economic uncertainty for all workers.
“While the financial services sector is acquiring eye-watering profits, they must start taking their responsibilities to customers and communities more seriously.
“Access to a bank and cash is a fundamental need for all our local high streets. Simply walking away from the consumers who bring the banks astronomical profits is a complete disgrace.”
“Unite is working hard across all locations to support its members as they digest the implications of this awful news.”
Here is a full list of all the 39 closures which were announced on Thursday.
London
- Enfield – November 21
- Haymarket – November 29
- Croydon – November 13
- Golders Green – November 22
- Kensington – November 27
- Kingston – November 28
- Harrow – November 23
- Bromley – November 30
Rest of the UK
- Belfast – November 13
- Chelmsford – November 20
- Hexham – November 7
- St Albans – October 24
- Bournemouth – November 7
- Cheltenham – November 30
- Exeter – November 6
- Irvine – November 20
- Milton Keynes – October 23
- Swindon – October 31
- Brighton – – November 9
- Chester – November 19
- Fort William – November 22
- Kendal – November 6
- Newton Stewart – November 15
- Turrif – November 28
- Bristol – November 1
- Norwich – October 26
- Wolverhampton – October 18
- Derby – November 17
- Gosforth Centre – November 8
- Kingston – November 28
- Oxford – November 16
- Cambridge – November 25
- Durham – November 6
- Guildford – November 14
- Liverpool – December 5
- Reading – November 15
- Cardiff – November 2
- Ellon – November 27
- Lochgilphead – November 21
- Southampton – November 8
