News
Lloyds to cut more staff
Published on 11th November 2009 by Simon Hunt
Up to 5,000 jobs are going to be cut by Lloyds Banking Group in 2010. This bad news comes after thousands of jobs have already been slashed this year.
The bank said the cuts would be "significantly mitigated" by the redeployment of existing staff and the release of contractors, temporary staff and offshore employees. It is thought that this will only account for half of the cuts so c.2500 permanent jobs could be lost. Most of the cuts will come in its operations unit, which includes IT, collections and payment services.