Trade union GMB has warned that a strike by 1,500 cash handlers at G4S and Loomis could lead to ATMs running out of money and airports having no foreign currency
Alarmed union bosses have called on the Bank of England to step in and avert a looming cash crisis.
Almost 1,500 cash handlers working for G4S and Loomis are set to strike in a bitter dispute over pay freezes. This has sparked fears that ATMs will run out of cash and airports will be left with no foreign currency – with the most vulnerable being worst at risk if criminals launch cyberattacks.
Trade union GMB has warned it comes at a time when cash handling and transport workers face a growing risk of attacks, and organised gangs are targeting vulnerable workers. High stakes talks between the companies and the union are happening this week.
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In a letter to the Bank, GMB national officer Eamon O’Hearn, GMB National Officer wrote: “GMB is concerned the cash industry is reaching a point where it is no longer sustainable, posing a material threat to the UK economy, national security and the livelihoods of thousands of workers, their families and communities at large.
“The health of the industry is fundamentally under threat. GMB has worked tirelessly over the years to ensure that the cash – and wider guarding – industry were professionalised and standards raised to protect workers and ensure that criminal elements were kept out.”
And in a separate letter to Security Minister Dan Jarvis, Mr O’Hearn wrote: “This raises serious questions about the resilience of the UK cash system, especially in the likely event of another inevitable electronic payment system outage or even cyberattack. We know the Government shares some of these concerns as witnessed by present efforts to develop alternative payment systems, however these outages and attacks impact the most vulnerable in our communities who disproportionately experience the ‘digital divide’.”
The Bank said it will be responding to the union’s concerns. In a statement Mr O’Hearn said: “GMB is concerned the cash industry is reaching a point where it is no longer sustainable, posing a material threat to the UK economy, national security and the livelihoods of thousands of workers, their families and communities at large.
“The health of the industry is fundamentally under threat.”
A G4S Cash Solutions UK spokeswoman told The Mirror: “We are continuing to engage with the GMB and hope to reach an amicable agreement without the need for industrial action.” Loomis declined to comment while the dispute is ongoing.