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Lloyds set to slash 1,300 jobs

Wednesday August 10th 2011

News that banking giant Lloyds is set to cut 1,300 jobs from its workforce will send "ripples of shock across the entire businesss", a union representative has said.

The news, which has seen union leaders react with anger, will impact on UK staff working in the bank's risk and corporate divisions.

The measures come after banks were made to make 30,000 jobs cuts over the past two years, according to the Accord union.

General secretary Ged Nichols said: "Today's announcement, which is the first tranche of the extra 15,000 job losses forecast in LBG's recent Strategic Review, means that the bank has shed 30,000 jobs since February 2009 and the impact on employee morale of these incessant job cuts is what you would expect.

"Accord has informed LBG that it must do everything possible to avoid compulsory redundancies and work with us to provide support and guidance to those affected."

David Fleming, national officer of the Unite union, said: "This latest decision is astonishing and will send ripples of shock across the entire business as it signifies the reality and misery that faces hard-working staff."

Copyright © Press Association 2011

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