Lloyds, the British-owned banking group, said on Thursday that it would be stepping down from the International Labour Organisation, a body that represents workers in banking and other sectors.
The group, which employs about 2.3 million workers in the UK, has been embroiled in a dispute with the union, the National Union of Mineworkers, over its representation of its members.
The National Union is demanding a pay rise, higher hours and other changes to the way the group is run, according to the Financial Times.
The union, however, said it was not in talks with Lloyd.
The announcement came after a two-day strike by the National Bank workers in Manchester in response to a contract dispute.
The workers are demanding higher pay, a pay increase for staff, and a minimum number of hours a week, among other things.
The dispute has been taking place since April, with the strike affecting about 30,000 workers.
“We have no intention of giving up the fight,” Lloydes General Secretary of Staff, Peter Williams, said in a statement.
“The union will have to come to terms with the realities of a world that no longer needs the service of Lloydies.”
It was not immediately clear if any new deals would be struck with the National Unions.
In March, the company said that the number of union members was increasing to around 25,000.
“There is no doubt that Lloyde will remain a major player in the industry for many years to come, and we are confident that we will continue to be the industry’s champion and champion of working people,” the bank said.
“As we continue to move towards the future, we are committed to continuing to provide high quality service to our customers, while also continuing to support the unions.”