Union in pay talks with Lloyds TSB

Finance union Amicus is meeting Lloyds TSB bank to try to resolve a pay dispute which the union claims has seen up to 8,500 staff face a three-year pay freeze.

Amicus said the company’s policy of offering zero pay awards for the company’s highest earners had resulted in long-serving members of staff not having any pay increase for three consecutive years.

The union’s Iain MacLean said: “Lloyds TSB’s pay and bonus policy discriminates against some of their best employees who are good performers and at the top end of the pay scale.

“These people are the backbone of the company and a situation where up to 8,500 members of staff are facing a pay freeze for the third year and some have not had any pay increase in up to eight years is just not acceptable.”

Amicus said that unless they get a resolution of the matter at the meeting, held at the offices of the conciliation service Acas, they will be consulting their 15,000 Lloyd’s TSB members on the offer.

Lloyds TSB said the policy is addressing the gender pay gap in the company, but Amicus rejects that, saying it is not a credible approach. Staff not affected by the pay freeze have been awarded a just over inflation pay increase of 3.5 per cent for 2004/05.

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