Location of affected unit(s):
Financial and insurance activities
64 - Financial service activities, except insurance and pension funding
Lloyds Banking Group
Planned Job Reductions min:
Planned Job Reductions max:
Type of Restructuring:
Foreseen End Date:
Lloyds Banking Group has announced that it is to cut 5,000 jobs by the end of 2010. These cuts bring the number of job losses announced within the group to over 10,000 this year. Most jobs will be lost within the operations unit, which includes IT, collections and payment services. The job losses are intended to reduce overlap following the merger of Lloyds and HBOS.
1000 of the job losses will be in Scotland, and 530 in West Yorkshire.