Unite: HBOS staff demonstrate outside shareholder meeting

Unite: HBOS staff demonstrate outside shareholder meeting

Unite: HBOS staff demonstrate outside shareholder meeting

Employees of LTSB and HBOS will hold a demonstration tomorrow (Friday, 12th December) outside the HBOS Extraordinary General Meeting (EGM) in Birmingham.

Staff will be wearing t-shirts with slogans saying: “SECURE JOBS = SECURE BANK” to remind shareholders that the voice of employees must not be ignored. Staff will give shareholders mock ballot papers as they enter the meeting. They will also ask questions inside the EGM on: union recognition, proposed cost savings, offshoring and pay.

Derek Simpson, Unite joint general secretary, says:

“Employees from HBOS and LTSB deserve to have their concerns heard at the shareholders meeting. Unite members will be handing out mock ballot papers to shareholders in order to remind them to vote for secure jobs and a secure bank when they cast their votes at the meeting.

“It is vital that HBOS shareholders do not merely consider the financial rewards of a takeover, but the wider social and employment implications. Along with the loyal customers, employees of LTSB and HBOS are the life-blood of these banks. Without the continuous dedication of these employees throughout the on-going financial crisis there would be no viable takeover for shareholders to discuss at their meeting.

“Months of unremitting speculation about the future of HBOS has left long-serving employees feeling insecure about their jobs in an organisation they are very faithful to. It is vital that we focus on concrete proposals for the future of these banks. While some have spent the last few weeks playing politics with the livelihoods of our members, Unite is urging shareholders to hear the concerns of staff and support the ‘Unite Social Contract’ for the future of the new Lloyds Banking Group.”

The ‘Social Contract’ sets out Unite’s expectations for LTSB and HBOS management and any future stakeholder in the bank.

The Unite Social Contract states:

1. Recognition of Unite as a key stakeholder in the future of the financial services industry.
2. To ensure the employment security of employees in the finance sector.
3. To protect and improve the terms and conditions of employees, including pension arrangements
4. End the remuneration packages of senior executives which reward short-termism and irresponsible risk taking.
5. Overhaul of the regulatory structures of the financial services sector to include trade union involvement in order to enhance the accountability of finance institutions.

-Ends-

For more information, interviews or details of the photo opportunity please contact Saba Mozakka, Unite Press Office, on: 020 7420 8916 or 07768 693 953.

Notes to Editors:
Demonstration : Friday 12th December 2008 – 09.30am.
Address: National Exhibition Centre, Birmingham, B40 1NT.