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Lloyds to slash 9,000 more jobs

Lloyds Banking Group is to cut around 9,000 jobs over the next three years, equating to 10 per cent of its workforce.

According to reports, the bank will announce the cuts next Tuesday as part of a three-year strategic plan delivered alongside its third-quarter results.

The cuts are believed to be in response to the growing shift from branch to online banking, and will involve some branch closures.

The job losses are on top of 15,000 job cuts announced in the bank’s 2011 strategic review. As of July, 13,555 of those posts had been cut.

The total number of job losses at Lloyds, which is 25 per cent owned by the Government, since 2008 stands at 30,000. 

Lloyds declined to comment.

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There are 2 comments at the moment, we would love to hear your opinion too.

  1. The “group” has 100% of the market in restricted resale housing, that means homes which have planning obligations controlling the price, 30% discount for example. They couldn’t work out a risk if it fell on their heads.

  2. The great overpaid minds of the Executive reverting to Upper Sixth business strategies, cut, cut, cut, as the only means of driving a profit to appease shareholders and the city for a brief period, ignoring the fact that eventually you will ruin the future of the business for a generation, lack the experience required to provide a sustainable quality of service to your customers etc. But you can walk away with a golden handshake, handsome pension and gold star on your CV. Perhaps if you hadn’t shown such horrendous greed and lack of any moral integrity you would still have sustainable and profitable areas of business that you now no longer participate, notwithstanding the write off of all those fines although to be fair there wwill be more to come undoubtedly. 39,000 people in a little under a decade given their freedom it would make amnesty international proud.

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