News Column

Confirmation of Over 1,000 Job Cuts at Lloyds Banking Group is Further Blow for Staff

January 28, 2014

LONDON , Jan. 28 -- Unite issued the following news release: Lloyds Banking Group has today confirmed 1,080 job cuts across the country with another 310 staff being outsourced. This news by the taxpayer supported bank will be devastating for the workforce who have seen nearly 35,000 of their colleagues lose their jobs since 2008. Rob MacGregor , Unite national officer said: "While staff at Lloyds Banking Group continue to work hard to deliver half year profits of Pounds2.1bn, management has confirmed it is to give 1,390 staff another kick. "Some 1,080 employees of the bank will today learn that the company that they have worked tirelessly to turn around is rewarding them with a P45. Lloyds Banking Group is well on the road to recovery, with the CEO being recently rewarded handsomely with a share bonus in the region of Pounds2.5m, yet staff are being made redundant. "Unite will continue to oppose these job losses and has sought an urgent meeting with Lloyds to outline the union's concerns. Unite remains adamant that as the Bank continues to align its recovery to the UK's economic recovery, it is totally unacceptable that it persists in putting pressure on the public purse by making hundreds of jobs redundant on a bi-monthly basis." The 1,080 jobs will come from all divisions with major job losses in the Commercial SME & mid-markets business and Wealth's private banking and private clients business. There are also significant impacts in Jersey and the Isle of Man . These job losses form part of the 15,000 job losses announced in June 2011 . CC AutoTriage1pm-140129-30TagarumaMar-4617232 30TagarumaMar

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Source: Targeted News Service

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