“They are also another worrying step towards a cashless society - the cash industry really is on a knife edge."
He added: "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.”
The jobs losses have been unveiled despite the company saying this morning that first half earnings will be "significantly above market consensus" due to a resilient trading performance in June.
The company has been boosted during the pandemic by providing security services to Covid-19 testing sites and NHS Nightingale hospitals.
