Lloyds rely on 1,070 job losses to streamline back workplace structure

 Lloyds rely on 1,070 job losses to streamline back workplace structure

Lloyds Banking Group is to cut 1,070 tasks under a plan to simplify structures in some back office operations.

The bank stated that the shake-up – the latest in a string of statements – would impact its group change and retail bank groups however lead to 730 jobs lost on a net basis.

That was because the plans would also see 340 brand-new roles produced, it explained.

LLOYDS BANK

Image: Lloyds, like competitors, is trying to keep a cover on costs as the economy reels from the coronavirus crisis

It marked the latest move by the UK’s biggest home loan lender to cut expenses given that it restarted a restructuring program

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Redak staff

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