Merger to see building society vanish and jobs to go

The Co-operative Bank in Above Bar, Southampton

The Co-operative Bank in Above Bar, Southampton

by Ed Stilliard , Senior Reporter Updated on in News

TWO banks in Hampshire are set to close following a shake-up by the Co-operative Bank following its merger with Britannia building society.

Branches in Southampton and Portsmouth city centres will be shut while the Co-operative Bank closes 37 branches nationwide with a rebrand that will see the Britannia name disappear from the high street.

Southampton's Britannia bank at Hanover Buildings will merge with the Co-operative in Above Bar Street.

The Co-operative branch in Portsmouth's Arundel Street will merge with the Britannia bank in Commercial Road which will become a Co-operative.

The changes will lead 34 job losses, largely at a managerial level, while the bulk of the 188 staff employed across affected banks will be relocated to neighbouring branches.

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Comments

8:21pm Thu 24 Jan 13 userds5050 says…

Good ethical decision from the Co op.

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8:36pm Thu 24 Jan 13 bazzeroz says…

userds5050 wrote…

Good ethical decision from the Co op.

I can see your point as I have just opened a Co-op account because of their ethics but, both locations are within a few hundred yards of each other so, it does make sense and, the Co-op has bailed out Britannia in, effect.

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