Unions meet minister to salvage Lloyds TSB and HBOS jobs

Trade union leaders are set to meet Scotland’s first minister Alex Salmond today (Monday) in a bid to salvage thousands of jobs at Lloyds TSB and HBOS.

Lloyds has identified £1bn savings from last week’s merger, mainly from closing retail branches, rationalising products, and combining back-office functions. More than 10% of the two banks’ 142,000 workers could face the axe.

But Salmond is reportedly going to meet union bosses and then the new management at the enlarged bank this week to try to save jobs and Scottish branches.

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Unite warned on Friday that staff morale was “at an all time low”. Unite joint general secretary Derek Simpson said: “The banks must reassure their staff and do everything possible to protect jobs.

“If the banks don’t, the government must step in. They have already intervened and we believe, if necessary, they should intervene to protect jobs in the financial services.”