News

Union dispute in UK threatens cash supply to Lloyds ATMs

October 14, 2002

LONDON -- Securicor is facing a dispute with the union representing Lloyds TSB workers as the security company takes charge of handling cash for the bank this week.

According to a report in The Guardian, The Lloyds TSB Group Union will poll its members as early as this week over possible strike action. A walkout by staff working at cash centers in Bristol, Leeds, Birmingham and London could mean that Lloyds TSB branches and ATMs will run out of money.

A total of 105 Lloyds TSB staff will be affected by new contracts, one of the biggest such deals struck by a High Street bank.

The union claims that the move to Securicor will cost staff their profit-sharing and bonuses, worth 12.5 percent of their salaries. A cash center worker earns up to £13,000 (approximately $20,200 U.S.) a year, but perks boost the figure to about £14,000 (about $13,700), according to the Guardian.

Steve Tatlow, the union's assistant general secretary, said there was support among union members for a strike. "If it takes place, no cash would be delivered," he told the Guardian.

But Lloyds TSB said that no branches would be without cash. Under a contingency plan, Securicor will take responsibility for delivering coins and notes to Lloyds TSB's 2,100 branches as well as its ATMs.