Lloyds to make 1,200 more job cuts

by Richard Kilner

Story link: Lloyds to make 1,200 more job cuts

The BBC is reporting that Lloyds Banking Group, formed by the hasty merger between HBOS and Lloyds TSB, is to axe a further 1,200 jobs.

On top of previous large scale job losses this will mean that there will be a total of 8,200 job cuts made by the banking giant this year.

Most of the jobs will be lost in IT support and insurance services.

In addition, the bank has told the BBC that some 370 of the jobs are presently occupied by temporary staff.

Lloyds went on to say that since January they have created 1,200 new jobs.

West Yorkshire, particularly hard hit by the failures of HBOS and Bradford and Bingley, will lose 300 jobs, with hundreds also going in Scotland and Bristol losing 110.

At the end of last month the bank announced it would be losing 2,100 members of staff, and at the start of June the closure of Cheltenham & Gloucester branches put 1,500 jobs in jeopardy.