Lloyds slashes jobs in Channel Islands

Some 200 jobs are to be axed by Lloyds Bank in the Channel islands and Isle of Man following a reorganisation at its Wealth & International division.

The Lloyds Banking Group (LBG) – which now includes HBOS – plans to combine its banking businesses in Jersey, Guernsey and the Isle of Man with the result that 270 full-time jobs will be made redundant by the end of 2011, although 70 new posts will be created – a net loss of 200 jobs.

Lloyds said it has consulted with unions throughout the process and hopes the losses will be voluntary. “Compulsory redundancies will be a last resort,” said the bank.

Jo Dawson, LBG wealth & international director, said: “We are committed to working through this process carefully and sensitively with impacted colleagues.”

LBG is combining its Channel islands and isle of Man businesses by bringing together its Lloyds TSB and HBOS operations on the islands.

Another LBG business, insurance arm Clerical Medical, is relocating its Clevedon, Somerset customer service division to Bristol, which may threaten 30 jobs. Staff who transfer will be given a daily travel allowance.

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