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HBOS takeover: Fight starts to keep bank jobs in Halifax
A HUGE campaign is launched today to keep key jobs and services in Halifax after the takeover of HBOS.
Lloyds TSB chief Eric Daniels has confirmed an unspecified number of jobs will be axed. The Courier is now galvanising support to protect the town from unprecedented job lossess and is calling for high street banking operations of the enlarged company to stay here.
Calderdale peer and former financial consultant Lord David Shutt said people needed to shout up for Calderdale. The former mayor and Liberal Democrat chief whip said it was vital to keep the Halifax bank alive because it plays such a huge role in the immediate area.
He said: "Those making decisions about the merger of HBOS and Lloyds need to understand Calderdale matters and it is important we shout about it."
HBOS employs 6,500 in Halifax. The focus will now centre on retaining as many jobs as possible.
Halifax MP Linda Riordan said: "I want to keep the jobs and buildings in Halifax and possibly the head office. We need to safeguard as much as we can.
"I want an urgent meeting with those in charge to seek reassurances they will protect jobs for local people."
Calderdale Council chief executive Owen Williams said protecting Halifax jobs was a primary concern. "We are working with agencies including Yorkshire Forward so we can respond on behalf of local people," he said.
Tom Riordan, chief executive of Yorkshire Forward, said: "Creating a bank this size will require expert skills and staff – something Yorkshire has to offer and we are confident the new owner will recognise this."
Courier Businessman of the Year 2007, Roger Harvey, of Harveys department store, hoped the strong Halifax brand would help keep jobs in the town.
"Halifax is probably the best-known brand in the UK and you have to hope that is taken into account when decisions are made."
Lloyds TSB's Eric Daniels would not be drawn on the number of jobs affected but is looking for annual savings of more than 1 billion from 2011.
He said: "In combining the two operations there will be job losses."
HBOS spokesman Shane O'Riordain said the takeover was the best deal for the bank and staff – despite the uncertain implications for thousands of Calderdale families.
"It is a very important decision and we have made that decision for all the right reasons," he said.
The Trinity Road headquarters and data-processing centre in Copley are purpose-built operations and it is hoped there would be a strong case for keeping them occupied.
The next stage in the takeover is to get shareholder approval.
Last night the Finanacial Services Authority brought in a temporary ban on short-selling from midnight to protect the market from further instability.
Short-selling is where investors "borrow" shares and then sell them, hoping it will cause the price to fall.
They then buy the asset back at a lower price and return it to its owner, making a profit from the difference. Some analysts believe short-selling led to the downfall of the Halifax.
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Saturday 11 February 2012
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