Home Business News G4S to axe more than 1,100 jobs

G4S to axe more than 1,100 jobs

by LLB Reporter
13th Jul 20 2:13 pm

G4S are planning to cut around 1,150 jobs in their cash handling business in the UK, after the company had reviewed their operational footprint of their Cash Solutions arm.

Throughout the coronavirus crisis the company had weaker demand for physical money to be moved and online payments and digital banking surged.

Paul van der Knaap, managing director of G4S Cash Solutions UK, said in a statement, “Following a review of our Cash Solutions operational footprint in the UK, we are proposing to reshape the business to better align it with the changing needs of our customers.

“Regrettably this will result in a reduction in headcount, and today we have entered into a period of consultation with affected staff.

“We are working closely with unions and individuals to offer opportunities for redeployment within the group.”

Roger Jenkins, GMB National Officer, said of the company’s plans, “These cuts are devastating for our members and their families. GMB will fight to the end for every single job.

“They are also another worrying step towards a cashless society – the cash industry really is on a knife edge.

“The collapse of cash industry could have a terrible impact on the elderly and most vulnerable and wreak havoc on small and medium enterprises which rely on cash transactions.

“GMB is calling on the Government to take action to protect the cash industry and all those who will be hit hard is it disappears.”

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