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Lloyds cuts 240 offshore jobs

Lloyds Banking Group is cutting 240 offshore finance jobs across Jersey, the Isle of Man and Guernsey by the end of 2011.

The cuts follow the group’s decision to combine its banking businesses in the Channel Islands and the Isle of Man by bringing together its Lloyds TSB and HBOS franchises.

The group will create new jobs in its wealth & international risk function, mostly in Edinburgh.

In the group’s insurance division, Clerical Medical will relocate a customer service centre from Clevedon to its Bristol head office.

Lloyds Banking Group Jo Dawson wealth & international director says: “Regrettably, there will be an impact on some jobs as a result of today’s announcement. We are committed to working through this process carefully and sensitively with impacted colleagues.”

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