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Protests at shareholder meeting | Protests at shareholder meeting |
(20 minutes later) | |
Union members are to protest outside a meeting of Lloyds TSB shareholders to voice concern over possible job losses. | Union members are to protest outside a meeting of Lloyds TSB shareholders to voice concern over possible job losses. |
Shareholders are meeting at the SECC in Glasgow to vote on the bank's controversial planned takeover of Halifax Bank of Scotland (HBOS). | Shareholders are meeting at the SECC in Glasgow to vote on the bank's controversial planned takeover of Halifax Bank of Scotland (HBOS). |
They will also decide whether to accept £5.5bn of government bailout funding. | They will also decide whether to accept £5.5bn of government bailout funding. |
Leaders of the Unite union said they remained neutral on the proposed deal, but were determined to prevent any compulsory job losses. | Leaders of the Unite union said they remained neutral on the proposed deal, but were determined to prevent any compulsory job losses. |
Wendy Dunsmore, national secretary with Unite, said: "Unite is the voice of both Lloyds TSB as well as HBOS staff and what we're campaigning for is no compulsory redundancies and also no off-shoring, which would lead to more job losses." | Wendy Dunsmore, national secretary with Unite, said: "Unite is the voice of both Lloyds TSB as well as HBOS staff and what we're campaigning for is no compulsory redundancies and also no off-shoring, which would lead to more job losses." |
Ms Dunsmore criticised Sir Peter Burt and Sir George Mathewson for mooting the possibility of a state-owned independent HBOS - even though proponents argue this would safeguard more jobs. | |
She said: "They've got no money and no deal on the table - I think it's quite irresponsible to make that type of statement when they've got nothing to show for it." | She said: "They've got no money and no deal on the table - I think it's quite irresponsible to make that type of statement when they've got nothing to show for it." |
Scottish Liberal Democrat leader Tavish Scott also plans to stage a protest outside the meeting. | Scottish Liberal Democrat leader Tavish Scott also plans to stage a protest outside the meeting. |
The Lib Dems are urging shareholders to vote against the planned takeover of HBOS, claiming it jeopardises jobs, branches and competition in the banking sector. | The Lib Dems are urging shareholders to vote against the planned takeover of HBOS, claiming it jeopardises jobs, branches and competition in the banking sector. |
Meanwhile, the SNP tabled another motion in the Commons calling for HBOS to remain independent, rather than be taken over by Lloyds TSB. |