Lloyds Banking Group is to cut 1,300 jobs across its group functions, retail, group operations and wealth and international divisions.
The company said 1,120 of these were part of the reductions announced in its strategic review earlier this year, as part of its 'simplification' programme. The 180 added to this figure are part of its ongoing three year integration programme due to finish at the end of this year. Lloyds said the cuts would allow it to invest in "growth initiatives" to deliver better value for money products and services, and provide investors with "strong, stable and sustainable returns". It said it had consulted with recognised unions prior to the announcement and was seeking to implement the chan...
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