Lloyds TSB to cut 500 jobs due to merger

Lloyds TSB
is cutting 500 jobs in its 2000 branches across the UK, following the merger of
Lloyds with TSB this summer.

The
bank expects to achieve the job cuts through voluntary redundancies among its
30,000 staff by the end of the year.

Helen
Thompson, press spokeswoman for Lloyds TSB, said, “We have had recent
discussions with the Lloyds TSB union to inform them of our restructuring
plans. We hope to achieve the job cuts through voluntary redundancies and
natural wastage.”

Lloyds
TSB confirmed that job losses would come mostly from junior grades, with
compulsory redundancies a last resort.

www.lloydstsb.co.uk

Karen
Higginbottom

Comments are closed.