255 jobs to go as bank announces major branch closure plan

Virgin Money is set to close almost a third of its bank branches, with the potential for 255 job losses.

The bank told its workforce on Thursday (July 20) that 39 outlets will shut by the end of the year.

In the East Midlands this will include the branch in Derby.

A statement from Virgin Money said: “The number of customers using bank branches for day-to-day transactions has been on a downward trajectory for a number of years.

“Each store closing is less than half a mile from the nearest Post Office, which customers can use to carry out day‐to-day transactions.”

Unite union general secretary, Sharon Graham, said: “Access to a bank and cash is a fundamental need for all our local high streets. Simply walking away from the consumers who bring the banks astronomical profits is a complete disgrace.”