Unite: LTSB staff demonstrate outside shareholder meeting
Employees of LTSB and HBOS will hold a demonstration tomorrow (Wednesday, 19th November) outside the LTSB Extraordinary General Meeting (EGM) in Glasgow.
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 leaflet shareholders as they enter the meeting. Staff 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. 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.
“The protesters will demand that LTSB shareholders do not merely consider the financial rewards of a takeover of HBOS, but the wider social and employment implications.
“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. 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.”
Members of Unite the union will hand out leaflets to shareholders to make their priorities clear. 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 starts at 10.30am on Wednesday, 19th November 2008.
SECC, Exhibition Way, Finnieston, Glasgow, G3 8YW.