Lloyds axes 940 jobs to save £1.5bn

The jobs will be cut from the group operations, insurance, retail, wealth and international and commercial divisions. These  job losses form part of the 18,000 job losses announced in June during the group's strategic review. In a statement Lloyds said it "is committed to working through these changes with employees in a careful and sensitive way. All affected employees have been briefed by their line manager today." "The group's policy is always to use natural turnover and to redeploy people wherever possible to retain their expertise and knowledge within the group. "Where it i...