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Monday, May 29, 2023

Another 200 Jobs Lost in Cash Industry in Another Step Towards a Cashless Society

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GMB Union is calling on the Government to act to protect the cash industry before it disappears

Cash-handling company Loomis has announced more than 200 job cuts in a ‘crushing blow to the industry’, says GMB Union.

The company will close branches at Southampton, Liverpool, Wembley and Glasgow Coin centre and reduce head count at other branches, cutting 222 jobs altogether.

The cuts come on top of more than 300 announced by Loomis and more than 1,000 announced by G4S in the summer – GMB warns this is another step towards a cashless society, which will not only cost thousands of jobs, and damage the lives of the elderly and the vulnerable as well as small and medium enterprises.

New research shows cash machine withdrawals have plummeted by almost 50% during lockdown – but crucially the constituencies where cash use has remained steady are often the most deprived. 

Roger Jenkins, GMB National Officer, said:

“Our Loomis members and their families will be devastated.

“GMB Union will fight to save every single job.

“This is another crushing blow to the cash industry and a dangerous step closer to a cashless society.

“Losing cash will hit the elderly and most vulnerable hardest and trash small businesses. 

“Allowing cashback without purchase is no solution. – removing the expertise and security of the cash in transit industry will be a bonanza for organised crime.

“GMB is calling on the Government to take action to protect the cash industry before it disappears – it’s only once it’s gone we will realise how much we need it.”

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