Lloyds Banking Group is cutting 940 jobs across the company including 300 job losses from its retail and wealth and international divisions.
The roles at risk in the retail and wealth international teams include Bank of Scotland branch staff, retail marketing and facilities management.
Other affected divisions include group operations, insurance, and commercial divisions. The latest wave of job cuts forms part of the 15,000 job losses announced by the bank in June 2011 in a bid to reduce costs by £1.5bn a year by 2014.
Affected staff were told about the job cuts today.
A Lloyds spokesman says: “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.”
Unite national officer Dominic Hook says: “Since 2009 Lloyds has slashed a quarter of its workforce. It is a complete disgrace that the bank, which is 41 per cent owned by the taxpayer, continues to cut jobs in such a cavalier way.
“Unite has warned Lloyds if it is looking for a period of stability and growth to return it to profitability, this cannot and will not be achieved by continuous and damaging job cuts. Unite opposes these cuts and will be doing everything possible to stop compulsory redundancies.”
It follows news last week that Halifax is cutting 170 roles across its branch network including customer managers, counter managers and business managers.