Lloyds bank to cut 850 jobs

Thu, 09/05/2013 - 19:35 -- nick

Lloyds Banking Group is to cut another 850 jobs on top of 2,750 already announced for this year.

600 of the jobs will go through the closure of an office in Southend, an area that already suffers above-average unemployment.

The bank said it would try to achieve its aim through voluntary redundancies, and make compulsory cuts only "as a last resort", citing the fact that only a third of its 2012 redundancies were compulsory.

But the Unite union's Dominic Hook said: "Lloyds is celebrating a return to profit and there are hints of dividend payouts to shareholders, but the bank's workers are in constant fear that they will be next for the chop.

"This is no way to treat staff. It's time to urgently review this continuous tide of cuts and build the bank's strength."

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