1,000s of UK jobs could be at risk from potential merger

Thousands of UK jobs could be at risk as a result of any possible merger between HBOS and Lloyds TSB.

Industry sources say that because there are so many synergies between the two firms the human cost could be great.

He says: “There are too many similarities between the two groups for there not be significant job losses if a merger took place.”

Some estimates suggest that should the merger go ahead the number of jobs losses could be as much as 40,000.