Member Article

1000 Jobs to go at Lloyds Bank

Lloyds Bank have today announced a number of organisational changes which will result in ALMOST 1000 role reductions across the UK.

The move is part of the Bank’s ongoing cost cutting measures measures to make cost savings of £1.5 billion by 2014.

The losses will come from Group Operations, Group Executive Functions, Risk, Wholesale and Insurance divisions.

The main bulk of the jobs will be lost in Romford and Leeds, where 212 and 186 jobs have been cut respectively. Sites in Newcastle and Scunthorpe are also set to close, but affected staff will be redeployed elsewhere in the business.

A spokesperson for Lloyds commented: and Insurance divisions. Lloyds Banking Group is committed to working through these changes with employees in a careful and sensitive way.
“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.

“Where it is necessary for employees to leave the company, it will look to achieve this by offering voluntary redundancy.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .