Virgin Money delays 500 job losses to "protect colleagues" through COVID-19

A financial services company has announced that it is delaying planned branch closures due to the outbreak of COVID-19.

Virgin Money UK had reported in February that it planned to close 22 branches, causing around 500 job losses.

The company has now said that it will not proceed with the closures “until further notice”.

The announcement in February included a number of planned changes to the business linked to the group’s integration process to bring together the operations of Clydesdale and Yorkshire Bank with Virgin Money.

As well as the closure of 22 branches, the company had planned the consolidation of a further 30 branches, as well as the rebranding of the entire branch network to Virgin Money by October 2020.

Lucy Dimes, group business transformation officer at Virgin Money UK, said: “Our primary focus is on supporting our customers and protecting our colleagues during this challenging time.

“As a result of the impact of Coronavirus in the UK, we have decided not to proceed with the integration changes we announced in February.”

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