Newport To Close In 2026 & Move To Cardiff
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LBG has today announced the closure of Tredegar Park, Newport which will take place in H1 2026. In addition, the bank will be closing St. William House in Q2 2024 as part of the bank’s preparations for establishing a permanent site in Cardiff, which will then become the sole LBG site in South Wales. This will mean that all Cardiff based workers will temporarily move to Newport and current Newport based workers will be permanently based in Cardiff from H1 2026.
Given the rumours circulating about the future of the Newport site, this announcement will not come as a surprise to some colleagues. Now that it has been confirmed, we know it will be causing workers in both sites to worry about the inevitable disruption and inconvenience these moves will cause. When considering the move from Cardiff to Newport in Q2 and then for colleagues based in Newport having to commute to Cardiff from H1 2026.
During consultation we pressed LBG to support all colleagues impacted by the decision to close the sites, stressing the additional burden this will now place on already stretched household budgets and in commuting time given the limited public transport infrastructure to the Newport site, and to put in place meaningful and prolonged support to mitigate these impacts, we specifically lobbied for:
All additional travel costs incurred by colleagues to be covered by LBG
Shuttle bus to be provided to mitigate colleague travel costs
Discounted parking in 2026
Travel costs to be covered in perpetuity for all impacted LBG workers
Unite secures interim support!
As a result of your union, Unite’s efforts in pressing the bank to do right by LBG colleagues we have secured a commitment that all colleagues moving from Cardiff to Newport in Q2 2024 until H1 2026 will have their additional travel costs covered until the new Cardiff site opens subject to meeting the criteria of the journey increasing by 30 mins and/or more than an additional 10 miles. A significant win in comparison to the current travel and mobility policy stipulating support for 12 months only.
Whilst we welcome the move to help support Cardiff colleagues , we must not lose sight of the fact that in 2026 this level of support will cease and not apply to those colleagues moving from Newport to Cardiff. We call on the bank to do the right thing and cover the travel costs of all in Newport colleagues in perpetuity when the site finally closes its doors in 2026.
Member support and have your say!
We are asking LBG workers to get in touch to outline the personal inconvenience this change will cause them.
Please complete the survey below so we can project your voice to LBG leadership and together we can fight for more support - UniteInLBG.org/SouthWalesSurvey
Please also provide your views on the current travel and mobility policy, details outlined on the back of this newsletter.
Join Unite the union today - uniteinlbg.org/join