The job cuts are a result of Lloyds’ decision to consolidate its businesses in the motor sector, making Black Horse the group’s sole brand for point-of-sale dealer finance for this sector.
The group expects 200 jobs to go at its centre in Speke, 340 jobs are at risk in Chester next year and jobs are also at risk in the sales force and at some regional collections centres across the UK.
Lloyds Banking Group asset finance managing director David Oldfield says: “The decision follows a detailed review carried out last year by Bank of Scotland. These changes reflect the financial performance of these business areas, the non-core nature of much of the activity.
“We are committed to working through these changes with our colleagues carefully and sensitively and will seek to use natural turnover and redeployment wherever possible.”
However, Unite national officer Rob MacGregor has hit out at Lloyds’ decision to shed 985 jobs, claiming it will cause uncertainty for staff across the whole banking group
He says: “For some months now the employees of the company have had to live with almost daily speculation about the security of their jobs and the long-term plans for the company. Today the workforce must face the horrendous reality that integration will mean that some will lose their jobs.”