Lloyds announced 585 job losses

by Gill Montia

Story link: Lloyds announced 585 job losses

Lloyds Banking Group has announced 585 UK job losses, mostly relating to the closure of its 58-strong network of Black Horse personal loan centres.

In 2009, trade union Unite claimed that the 43%-state-owned bank cut around 15,500 posts with redundancies announced on “an almost weekly basis” leaving staff “in a permanent state of anxiety”.

The latest cull should be completed by March of 2011 and some new jobs will be created alongside the losses, in the group’s retail lending arm.

In addition, Lloyds will be recruiting staff as it brings in house certain insurance operations that are currently outsourced.

Unite has said it is “deeply disappointed” at today’s announcement.

National Officer, Rob MacGregor, commented: “At a time when many families are struggling to control their finances and businesses need access to credit, Unite is opposed to the shutting down of these valued local centres.”

Black Horse customers will see their loans transferred to the group’s centre in Cardiff.