Lloyds poised to close 300 Halifax “counters”

by Gill Montia

Story link: Lloyds poised to close 300 Halifax “counters”

Hundreds of Halifax outlets could be axed as the integration of Lloyds TSB and HBOS continues.

According to reports, the merged Lloyds Banking Group is considering the closure of over 300 agency “counters”, which are operated under licence by third parties such as solicitors and estate agents.

The counters offer only a limited range of Halifax services but do employ dedicated staff.

In June, the group said it would be closing 26 agency counters in England and Wales, creating fears of a bigger cull to come.

Also at that time, Lloyds announced the closure of its 164 Cheltenham & Gloucester branches, although the decision is currently under review.

Around 800 jobs are at risk over the C&G closures and hundreds more could go should agency counters be withdrawn.

So far this year, Lloyds has reduced its headcount by around 7,500 while pursuing its target of £1.5 billion in cost savings by 2011.

Analysts have estimated that over 30,000 jobs could be cut before the integration is complete.