Cheltenham & Gloucester closures lead to redundancies

Lloyds Banking Group will close all 164 of its Cheltenham & Gloucester (C&G) bank branches, cutting thousands of jobs across the UK by the end of the year.

A spokesman for the banking giant confirmed that up to 1,660 full-time jobs would go, including 833 roles in the branches, 159 in its sales department, and the remaining number in the retail and personal loan businesses.

Helen Weir, Lloyds group executive director of retail, said the redundancies were not an easy choice to make.

“It is always difficult to make decisions about our business that affect our colleagues,” she said. “We will work through these changes carefully and sensitively and continue to consult closely with our unions throughout the process.”

Derek Simpson, Unite joint general secretary, described the announcement as “disgraceful”.

“Hundreds of staff who have worked hard for years to make the C&G brand a success will view this news as a kick in the teeth,” he said. “UK taxpayers have not poured billions of pounds into this organisation just to see it sack thousands of hard-working people.

“This is truly a dark day for the financial services sector in this country,” he added.

Lloyds has shed nearly 3,000 jobs since April after its merger earlier this year with HBOS. Unite, the union, has previously accused the bank of a embarking on a strategy of “death by a thousand cuts”, and not being up-front about its restructuring plans.

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