News Column

Lloyds Urged to Stop Constant 'Salami Slicing', as 500 More Jobs Set to Be Lost

July 9, 2014

LONDON, July 9 -- Unite issued the following news release:

Lloyds Banking Group (LBG) needs to stop its regular 'salami slicing' of banking jobs every two months, Unite, the country's largest union, said today (Wednesday 9 July).

Unite was commenting on the latest tranche of 500 job losses announced by LBG today, bringing the jobs lost by the group to about 30,000 since the banking crisis unfolded in 2008.

Unite national officer for finance Rob MacGregor said: "We have major concerns that Lloyds seems comfortable in announcing continuous salami slicing job losses on a bi-monthly basis which exacerbates our members' fears and worries about their future.

"We are calling on the LBG to halt this ongoing running sore and to finally recognise that its employees are the greatest asset that this bank - and every other financial institution - has.

"There should be no more job cuts, given that LBG persists in continuing to exploit cheaper resources offshore.

"Unite questions whether LBG is living up to its own job security agreements as it would appear that an extraordinary number of colleagues are working overtime to make ends meet which, at a time of job losses, should not be happening."

The job losses will affect about 100 customer service managers and more than 360 roles in the finance business sector. Other job losses will be in the retail and group risk areas.

CC AutoTriage1pm-140710-30TagarumaMar-4792838 30TagarumaMar

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Targeted News Service

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters