Clydesdale Bank sheds 300 jobs as branches close

Virgin Money and Clydesdale Bank signs

By Democrat reporter

Clydesdale Bank, now renamed Virgin Money, is to shed 300 staff as it closes branches, six in Scotland, including its branch at 53 High Street in Dumbarton..

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.”

Clydesdale Bank at 53 High Street, Dumbarton, will close. Helensburgh has already shut up shop. Clydesdale is no more in West Dunbartonshire.

One comment

  1. And down the pan goes Clydesdale Bank a historical Scottish brand with its roots running back to 1838.

    Purchased by Midland Bank in 5he 1920s and then in the 1990s sold to the National Australia Bank it is clear that the current parent CYBG Plc have no faith in the tarnished name of Clydesdale Bank preferring instead Virgin.

    Seems though that the CYBG will however be continuing to print Scottish bank notes. But whose head, Ho Ho, will they put on them………..Richard Branson (?) upon whose franchise brand name the bank now trades.

    Ah, we once built ships!

Leave a Reply