Lloyds Banking Group announces more job losses

| May 26, 2011 | 0 Comments

Banking giant Lloyds has announced it will axe a further 360 jobs and transfer 140 members of staff to another company.

The banking giant, which is 43% owned by the taxpayer, has now axed more than 27,000 jobs since its merger with HBOS at the height of the financial crisis, some of which were due to overlap following the merger.

The latest round of job cuts will affect staff in in Lloyd ‘s group functions, wholesale, retail and insurance divisions.

“Lloyds Banking Group is committed to working through these changes with employees in a careful and sensitive way,” the bank said.

Again, the job losses met with anger from the Unite union, who said: “The news will hit the 500 affected employees hard and many will already have seen significant cuts in their department and team, bringing increased pressures and workloads.”

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