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Lloyds Banking Group puts 640 techies and backroom bods on chopping block

Part of planned 9,000 job cuts and 200 branch closures

Lloyds Banking Group is to chop 640 jobs in IT and back office functions as it forges ahead with plans to reduce its branch network's real estate.

Workers impacted by the planned redundancies are understood to be based in locations across the UK in London, Bristol, Manchester and Edinburgh.

A PR man at the company confirmed the cuts across the Retail and Group operations but told us some 115 new roles are being created on those areas at the same time.

“Lloyds Banking Group is today announcing 525 net role reductions as part of the total role reductions of 9,000 already announced in October 2014 as part of the group’s three year strategy.”

“All affected employees have been briefed by their line manager today,” the Lloyds spokesman added.

The bank will shutter up to 200 branches over the 36 month restructuring period, which is now two thirds the way through. Some 23 of those will be shut during October.

Rob MacGregor, national officer at the Unite trade union, which alongside the trade union Accord (affiliated to the TUC) is being consulted about the job cuts, said:

“The continuation of the bank’s major job loss programme will bring disappointment as staff feel they have already faced two years of endless workforce cuts.”

We asked Lloyds for a breakdown of how many jobs will be slashed in the Retail and Group structures, and what proportion of the staff will be IT bods, but are still awaiting a response. ®

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