Lloyds cuts 990 back office jobs

Lloyds Banking Group announced today (7 February) that it will be cutting 990 back office staff as part of its plan to cut 15,000 jobs as announced in its group strategic review.

The roles will come from within group operations, group executive functions, risk, wholesale and insurance divisions.

A spokesperson for Lloyds highlighted that where it is necessary for employees to leave the company, it will look to achieve this by offering voluntary redundancy, stating that compulsory redundancies will be a “last resort”.

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The spokesperson highlighted that during 2009-2011, slightly less than 50 per cent of the role reductions made as part of the integration of the Halifax Bank of Scotland into Lloyds Banking Group have led to people leaving the group through compulsory redundancy.

The spokesperson said: “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.

“All affected employees have been briefed by their line manager today. The group’s recognised unions Accord, LTU, GMB and Unite were consulted prior to this announcement.”