TSB closures: full list of the bank branches closing in the North East in 2020 in £100m savings plan
TSB have published a full list of stores set for closure as part of a plan to cut costs by £100m by 2022.
Over 80 branches have been affected by the closures, including Newcastle Upon Tyne – Chillingham Road, which is due to close in September.
The change will affect 370 staff members, according to TSB.
The Spanish-owned bank said that they were working towards moving affected staff to new roles within its organisation.
A statement on the closures read: “TSB will work with Partners at risk of redundancy as a direct result of these closures and will to try to find them alternative roles within the business.“
TSB chief executive Debbie Crosbie said that "difficult decisions" were made in order to deal with a "challenging external environment".
The move comes after a major IT failure saw millions of the bank’s customers locked out of their accounts.
"A huge blow"
The bank will spend £180 million on closing the banks and restructuring costs.
An additional £120 million is to be spent on improving the bank’s digital product, as well as automating some branches.
By 2022 it’s predicted that 90% of transactions with the bank will be self-service. It’s not yet known how many jobs could be affected by the automation of branches.
In a statement, customer Banking Director at TSB Robin Bulloch said that customers would be fully supported "through this transition".
“We realise this is difficult news for our branch partners and will do everything to support those affected to offer voluntary redundancies and redeploy as many people as we can to other roles.”
Which?'s head of money Gareth Shaw said the news would come as a "huge blow" to customers.
"Bank customers are still enduring almost daily IT glitches, which is why everyday banking services and access to cash - which is a vital back-up - must be protected," he added.
"The next government should urgently intervene with legislation that protects access to cash for as long as it is needed."
Full list of closures:
Wigton (June) Newcastle Upon Tyne – Chillingham Road (September)
Headingley, Leeds (February) Thorne (April) Skipton (May) Hull – Willerby (May) Normanton (May) Todmorden (June) Brough (July) Market Weighton (July) Shipley (November) Harrogate (November)
Urmston (June) Chester (June) Chorlton, Manchester (October) Congleton (October) Warrington – Penketh (October) Leyland (November) St Annes-on-Sea (November) Ormskirk (November)
Leicester – Cavendish Road (May)
St Albans (September) Ipswich – Felixstowe Road (September)
Birmingham – Great Hampton (April) Coventry – Walsgrave Road (April) Pershore (May) Cannock (September) Rugby (September) Warwick (September) Birmingham – Stirchley (September) Lichfield (October) Stourbridge (October) Coventry – Jubilee Crescent (November) Leamington Spa (November) Sutton Coldfield (November) Bearwood Road Smethwick (November)
Moreton-in-Marsh (May) Okehampton (May) Stroud (June) Poole (October) Salisbury (October)
Abingdon (April) Burgess Hill (April) Sidcup (June) Amersham (June) Guildford (July) Ashford (September) Woking (September) Redhill (October) Basingstoke (October) Worthing (October) Fareham (October) Cowley (November)
Elephant and Castle (February) Holborn (May) Finchley (June) Barkingside (September) Wandsworth (September) Bayswater (September) St James’s Park (September) Chingford (November) Gidea Park (November) Old Street (November) Twickenham (November) Potters Bar (November)
Barrhead (April) Glasgow – Govan (May) Bishopbriggs (May) Milngavie (May) Dunbar (May) Portobello (May) Jedburgh (May) Kinross (May) Tain (June) Uddingston (June) Edinburgh – Clerk Street (July) Carluke (July) Brechin (July) Dumbarton (July) Clarkston (July) Edinburgh – Morningside (September) Wishaw (September)