LONDON, October 23 /PRNewswire/ --

Unite, the UK's largest trade union, will today (Thursday 23rd) call on finance companies not to make cuts in spending on skills training as the economic downturn gathers pace.

At a conference of senior representatives from the financial services sector the union will demand that employers do not cut vital staff training budgets in an attempt to make short-term savings.

Graham Goddard, Unite Deputy General Secretary, said: The tough economic climate demands that finance companies make smart decisions to ensure that their organisations are best placed to cope with the changing nature of such a competitive industry. As the regulatory environment in financial services changes it is important that staff are equipped with the skills and training they require to do their jobs.

Unite is demanding that employers think carefully about where they make cost savings and do not sacrifice investment in their staff in a bid to make small financial savings.

We all know that employees are the most important resource that the financial sector has. Only through their expertise and knowledge will the industry be able to compete within this aggressive global sector.

The Conference will also reveal the results of a survey of Unite members in the finance sector which shows a gap in what employers promise and deliver on training in the workplace. The survey found:

- 28% say that they do not get the training they need for their job. - Workers learning and skills experiences at work are significantly improved where there is a local union representative and where the employer engages positively with the union.

For more information contact: Saba Mozakka, Unite Press Officer on: +44(0)20-7420-8916 or +44(0)7768-693-953.