Lloyds To Axe 2,100 Jobs

Lloyds Banking Group has announced it is to cut a further 2,100 jobs over the next three years, in a move that had "astonished" unions.

The announcement was made today, bringing the total cull by the banking group since it was acquired by HBOS, to more than 7,000.

Lloyds Banking Group is 43%-owned by UK taxpayers and was formed by the merger of Halifax Bank of Scotland and Lloyds TSB late last year.

In a statement it said the cuts would be achieved by laying-off contract and agency staff, as well as through 'natural attrition', including 150 in West Yorkshire and 550 across Scotland and the Midlands.

Meanwhile, Lloyds said it was cutting 170 "relationship manager" roles across the UK and closing five commercial service centres this year in Barnstaple, Exeter, Lincoln, Plymouth and Yeovil.

The Unite union said it was “astonished” at the job losses, adding that "real questions" now had to be asked about how far the bank can be allowed to go in its "systematic" laying-off of staff.

Rob MacGregor, Unite's National Officer, said: "This loss of over 200 jobs marks the largest single job loss announcement since the formation of Lloyds Banking Group in January.

"Morale is now truly low as employees across Lloyds are in a permanent state of anxiety as they see their employer announce hundreds of job losses every week."

He added: "This Labour government cannot afford to turn the other way as bank workers across the country are losing their jobs."

Mark Fisher, Director at Group Operations in Lloyds, said: "By bringing the businesses together we will be better placed for the future. Regrettably, some of our colleagues will be affected by our plans (and) we understand that this difficult news will be unsettling."


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