1,200 jobs cut as result of Cler Med/Scot Wids merger

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Lloyds Banking Group is to cut a further 1,200 jobs with the company's insurance and IT arms expected to bear the brunt.

The group says the cuts follow the merger of its Scottish Widows and Clerical Medical businesses, with 250 expected at Scottish Widows. The move takes the total number of job losses at Lloyds this year beyond 8,200. Lloyds says 370 of the jobs are currently filled by temporary staff. It is understood Scotland will lose 220 jobs, West Yorkshire 300, and Bristol 110. It adds it is "committed to working through these changes with colleagues carefully and sensitively".  

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