Share Dealing
Lloyds confirms 325 business support jobs to go
Rob Langston, 14 April 2011
Lloyds Banking Group (LLOY.L) has announced further job losses after confirming 325 business support roles will go in its wholesale and group operations division.
The cuts have been made as part of the bank's integration programme and is the latest in a series of job cuts since the bank acquire HBOS in 2007.
A spokesperson for the group said all recognised unions had been consulted and affected employees notified.
The spokesperson added, 'Lloyds Banking Group is committed to working through these changes with employees in a careful and sensitive way.'
'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 severance. Compulsory redundancies will always be a last resort'
David Fleming, national officer at Unite, said, 'Staff morale is at an all time low with the constant flow of job cuts and the workforce feel they have no job security.
'The union is demanding to know why when the new chief executive, Antonio Horta-Osorio, has ordered a strategic review of the entire business he is sanctioning this method of drip feeding job losses.
Fleming added, 'Unite is calling for an immediate halt to these job losses until the review is concluded. As a minimum there must be no compulsory cuts.'
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