Job losses expected as Yorkshire Bank to close seven branches including Bridlington

As many as 500 members of staff at the former Yorkshire Bank business are to be culled as part of the rebrand to Virgin Money.

Thursday, 27th February 2020, 9:28 am
Updated Thursday, 27th February 2020, 9:28 am

Virgin Money, which has merged with the old Clydesdale Yorkshire Bank Group, is closing seven branches in the region including the one in Bridlington.

Other branches in Brighouse, Pontefract, Sheffield's Chapeltown, Wombwell near Barnsley, Morley and Harehills are also set to shut.

The bank said these branches were selected for closure as a result of lower usage.

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Yorkshire Bank. Picture JPI Media

Up to 140 roles in the Merrion Way office in Leeds are expected to be made redundant as the group restructures the firm around two major hubs in Glasgow and Gosforth, near Newcastle.

Virgin Money also announced their store on Briggate in Leeds will merge with the Yorkshire Bank branch, also on Briggate while Yorkshire Bank's in Hull and Sheffield's Fargate will consolidate their operations with nearby Virgin Money outlets.

The Virgin Money in York city centre will also merge with the Yorkshire Bank branch on Coney Street.

Further consultation is underway over role reductions in central offices as part of the c.16% FTE reduction announced as part of the Virgin Money acquisition.

Lucy Dimes, Group Business Transformation Officer at Virgin Money UK, said: “The decision to close branches is never taken lightly. The changes announced today are focused on consolidating branches where there is another Clydesdale Bank / Yorkshire Bank / Virgin Money location within half a mile as well as closing a number of branches to reflect changes to customer demand.

"As our customers change the way they want to bank with us, we are evolving the role of our stores - investing in all of the ways that customers are choosing to bank with us, including a re-imagined Virgin Money presence on the high street. Following the unveiling of three new Virgin Money stores in December last year, the full rebrand of our national network of 166 stores begins in April and will be completed by September this year.”

Posters will be placed in each affected store and written notification will be sent to customers at least 12 weeks before any store closes providing details to customers on the alternative ways of continuing to manage their accounts, including nearest stores, ATMs and Post Office counters - which customers can use for day-to-day banking.