Lloyds TSB denies jobs cull rumours

Lloyds TSB has denied claims in the national press that it will soon cut 566 jobs in an attempt to reduce costs in its back-office operations.

The reports of redundancies come as the bank looks to bring small outlets together across the UK to create larger outlets and save £121m by 2010.

However, a Lloyds spokesman told Personnel Today that the actual number of jobs that will be lost will come to 105. These jobs are going as the bank transfers certain functions to India.

The total number of jobs that will be affected is 566, but this will mean changing roles and not job cuts, the bank said.

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