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Lloyds to axe 2,100 jobs.

Summary: Unions have expressed "astonishment" at news that Lloyds is to axe 2,100 jobs across the firm's commercial and group operations.

Unions have expressed "astonishment" at news that Lloyds is to axe 2,100 jobs across the firm's commercial and group operations.

The Unite union said "real questions" now must be asked about how far the bank can be allowed to go in its "systematic" slashing of staff.

Unite national officer Rob MacGregor said: "This loss of over 2,000 jobs marks the largest single job loss announcement since the formation of Lloyds Banking Group in January.

"Morale is now truly low as employees across Lloyds are in a permanent state of anxiety as they see their employer announce hundreds of job losses every week.

"This Labour Government cannot afford to turn the other way as bank workers across the country are losing their jobs. This horrendous news brings the total of job losses since January in LBG to over 7,000.

"The thousands of staff in the commercial and group operations areas who are hit by this announcement will be seeking a commitment from the bank that there will be no compulsory redundancies."

He added: "Unite welcomes the assurance given to the union that LBG will not offshore any further roles in these business areas. However, we have called for an urgent review of all the Lloyds work being done offshore in order to access how this could be done in the UK in order to protect jobs."

Lloyds said the changes follow "careful and detailed reviews" of the group operations and wholesale divisions, which will bring together a number of functions across Lloyds TSB and HBOS areas.

Operational functions including payment and business services and banking are combining, while the wholesale division is bringing together its Lloyds TSB and Bank of Scotland businesses in England and Wales.

Up to 2,100 jobs will be affected over the next three years, although Lloyds said 350 new roles will be created in cuts wholesale division. The bank said it expected 700 of the job cuts to be achieved through natural attrition and the release of contract and agency staff.

It also announced that it would not be offshoring any permanent operational roles, keeping jobs in the UK wherever possible.

Independent Television News Limited 2009. All rights reserved.

Independent Television News Limited 2009. All rights reserved.

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Publication:Independent Television News Limited (ITN)
Date:Jul 2, 2009
Words:404
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