Another 1,000 jobs to go at Lloyds Banking Group

Tuesday 28 January 2014 15.36
Lloyds Banking Group to cut more jobs in the UK
Lloyds Banking Group to cut more jobs in the UK

 Lloyds Banking Group is to cut more than 1,000 jobs in the UK and switch other work to new employers.

The company said the 1,080 job losses will be in its retail, risk, operations and commercial banking divisions, while 310 roles will move to other employers.

Lloyds said the jobs were part of the 15,000 reductions it announced at its 2011 strategic review, adding that it was now 11,760 through these.

The Unite union attacked the announcement, saying workers at the bank would be "devastated". Almost 35,000 jobs have been lost at Lloyds since 2008, the union said.

Lloyds said it was committed to working through the changes with employees in a "careful and sensitive" way.

"All affected employees have been briefed by their line manager today. The group's policy is always to use natural turnover and to redeploy people wherever possible to retain their expertise and knowledge within the group," the bank said.

The bank also said it was creating 90 jobs across retail, risk and commercial banking.