5,000 more jobs to go at Lloyds

by Richard Kilner

Story link: 5,000 more jobs to go at Lloyds

The Press Association has reported that Lloyds Banking Group is to slash jobs in the new year.

The firm has already cut down sharply its headcount this year, and as many as 5,000 jobs are expected to go during the course of 2010.

At present the bank has 130,000 employees, and an official announcement is expected to be made later today regarding the rumoured 5,000 job losses.

When the banking giant was formed by the merger of Lloyds TSB and HBOS during the height of the financial crisis, analysts warned that as many as 30,000 jobs could be at risk.

This year the bank has shed around 7,500 staff in total, and in June Unite trade union spokesman Rob MacGregor told the BBC that the bank’s staff were in a permanent state of anxiety.