Scotland business

Clydesdale Bank sheds 300 jobs as branches close in Scotland

Virgin Money and Clydesdale Bank signs Image copyright PA Media

Clydesdale Bank, now renamed Virgin Money, is to shed 300 staff as it closes branches, six in Scotland.

The merger of the Glasgow-based lender with Virgin Money sees removal of overlapping branches, after demand for their services fell.

The plan was announced in February, but put on hold when lockdown began.

Returning to the proposal, the number of job losses has been reduced from 500 to 300, as more staff are deployed on customer service.

Virgin Money's response to the Covid-19 pandemic means it has increased its customer service measures including contacting potentially vulnerable customers about alternative options to access banking services.

'Sustainable, innovative business'

Staff who would have been made redundant with branch closures will be offered the option to keep working until 20 October to offer additional support to vulnerable customers.

The Clydesdale branches closing are in Crieff, Dingwall, Dumbarton, Dyce, Sighthill in Edinburgh and Wishaw.

The Virgin Money store in Giffnock will shut.

Across the merged companies, the closure axe is falling more heavily on Yorkshire Bank, which has been part of Clydesdale as it moves towards a single Virgin Money brand across the business.

Lucy Dimes, group business transformation officer at Virgin Money UK, said: "While the decision to recommence these redundancies and branch closures has not been taken lightly, we are committed to integrating Virgin Money under one brand as a sustainable, innovative business that invests in improving its customer offer for the future.

"The measures we've put in place during the lockdown will continue to help customers engage with alternative and improved ways of banking with us."

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