112 jobs at risk at Virgin Money as it closes 31 stores across UK
Virgin Money has announced plans to close 31 stores as it adapts to changing customer demand, the company said this morning.
“Virgin Money regularly reviews the ways customers use its stores, as well as its online, mobile and telephone channels, so that it can adapt its services to meet changing customer demand,” the firm said.
The number of customers using bank branches for day-to-day transactions has been on a downward trajectory across the UK banking industry for a number of years, and this has been further accelerated by the pandemic, it explained.
The stores will close in early 2022.
“It is Virgin Money’s intention to find alternative roles for colleagues wherever possible, either within other stores locally or elsewhere in the Group. However, some colleagues will be at risk of redundancy. It is expected that the changes will result in a reduction of around 112 full time equivalent roles across the Group,” the company said.
Following these changes, Virgin Money will have a network of 131 stores across the UK.