Further job cuts at Lloyds
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Lloyds Banking Group has today announced 1,300 role reductions within its group functions, retail, group operations and wealth and international divisions.
Some 1,120 of these form part of the reductions previously announced in the group’s strategic review on June 30, as part of its simplification programme.
The 180 remaining role reductions are part of the group’s ongoing three year integration programme due to finish at the end of this year.
A spokesman for Lloyds Group, says: “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.
“Compulsory redundancies will always be a last resort. In fact, during 2009 and 2010, slightly less than half of the role reductions made as part of integration have led to people leaving the Group through redundancy.”
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