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Halifax to axe 170 branch roles as part of cost-cutting programme

Halifax 480

Around 170 Halifax staff are set to lose their jobs as part of a cost-cutting exercise which was launched by parent company Lloyds Banking Group 18 months ago.

The affected employees are made up of customer managers, counter managers and business managers who operate within the bank’s branch network.

All 170 will be given the opportunity to apply for other roles within the group, according to a Halifax spokeswoman.

In June 2011, LBG chief executive Antonio Horta-Osorio announced the group would shed 15,000 roles over a three-year period in an effort to cut costs by £2.3bn. It was announced that this would involve pulling out of 15 of the 30 countries the group traded in and a drive to “revitalise” the Halifax brand.

A spokeswoman says: “All affected employees have been briefed by their line manager today. The group’s recognised unions Accord, Unite and LTU were consulted prior to this announcement and will continue to be consulted.

“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 redundancy. Compulsory redundancies will always be a last resort.”


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There are 3 comments at the moment, we would love to hear your opinion too.

  1. Now just remind me, how much was Antonio’ bonus ????????????

  2. This is just the start of the shake-out!

    Thought over the last 6 years or so with the thousands of jobs lost in the Financial Services industry – most would have gone with ever increasing regulatory costs & time constraints!

    Looks to be the last bastions of advice is waving a white flag to be consigned to the duastbins of middle class Englland & Advisers to History.

    Won’t be the last of such cutbacks – as Advice only available now to the privaleged & wealthy few of London & Green Suburbia!

  3. Never mind I’m sure Hector will find them a job at Barclays ! (Along with the other thousands of staff across the industry who lost thier jobs due to his inept supervision of the FSA & banks.)

    My sympathy to all those were were the innocent victims in the whole collapse and who just did what they were told to by managment under pain of sanctions.

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