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.