High street bank TSB is to close 164 branches and cut 849 jobs as part of its three-year restructure programme.
The bank is axing 969 roles from branches, mortgages, and customer service teams. However, it will also create 120 new operational posts, resulting in net loss of 849 jobs.
The redundancies, which have been blamed on the shift to online banking, will save TSB £100m ($129m) by 2022.
Branches earmarked for closure by the end of 2021 have been selected to ensure 94% of TSB customers can travel in 20 minutes or less to one of the 290 remaining branches.
Locations of branch closures are due to be announced later on Wednesday and will be available here.
Unite union national officer Dominic Hook said the decision marked a "dark day for the finance sector" and urged the bank to protect jobs during the pandemic.
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“Unite has argued for some time that the financial services industry has a social responsibility not to walk away from its local customers who continue to need access to banking in bank branches. It beggars belief that just seven years ago TSB had 631 local branches and this announcement will reduce that number to merely 290 branches," he added.
Meanwhile, Accord said staff directly impacted by the changes had been informed this morning. In a statement the union said it would do everything it could to avoid compulsory redundancies.
Debbie Crosbie, chief executive of TSB, said: “We are reshaping our business to transform the customer experience and set us up for the future. This means having the right balance between branches on the high street and our digital platforms."
Robin Bulloch, customer banking director at TSB, assured customers the bank was "taking steps to support vulnerable customers and those in rural locations.”