25 May 2017
register for the webinar

Lloyds shutters call centre, cuts more staff; branch sell-off IPO mooted

09 June 2011  |  7421 views  |  0 Lloyds TSB branch

Lloyds Banking Group is to axe 300 jobs and shutter a call centre in Bridgend, forcing the 700 staff who work there to relocate to other locations.

Unions reacted angrily to the latest round of restructuring at the UK bank, which has shed almost 28,000 jobs since the start of the banking crisis in 2008.

The 300 job cuts are inside the retail, wholesale, wealth and international and group operations divisions. At the Bridgend call centre, staff will be offered alternative roles in other local offices in Cardiff, Swansea and Newport.

David Fleming Unite national officer says the decision will "devastate" the local workforce in Bridgend.

"When the Bridgend site opened there was a significant commitment to the community and the bank secured a grant to this end," he says. "This withdrawal smacks of hypocrisy and makes a mockery of the statements made by the new CEO, Antonio Horta-Osorio, to support the bank's communities and customers."

Unions fear that more job cuts could be looming, as Horta-Osorio presents the results of a strategic review of the bank's operations at a presentation to analysts later this month.

Lloyds is currently hawking 600 branches to potential bidders as part of an EU-enforced sell off associated with its takeover of HBOS and subsequent bail out by UK taxpayers.

The bank is rumoured to be preparing to float the 600 branches under an IPO that would lead to the creation of a new bank, should it fail to reach a deal with suitors.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Lloyds cuts 325 back office jobs

Lloyds cuts 325 back office jobs

14 April 2011  |  8597 views  |  0 comments
Lloyds cuts 570 jobs; looks to outsourcing

Lloyds cuts 570 jobs; looks to outsourcing

18 March 2011  |  10874 views  |  0 comments
Lloyds to chop 4500 IT jobs

Lloyds to chop 4500 IT jobs

13 October 2010  |  11156 views  |  0 comments
Lord Levene venture eyes Lloyds online unit Intelligent Finance

Lord Levene venture eyes Lloyds online unit Intelligent Finance

12 July 2010  |  8949 views  |  0 comments
Lloyds axes another 650 jobs

Lloyds axes another 650 jobs

30 June 2010  |  7452 views  |  0 comments
Lloyds sells 70% esure stake to founder Wood

Lloyds sells 70% esure stake to founder Wood

11 February 2010  |  6337 views  |  0 comments
RBS cuts over 200 Irish IT jobs; Lloyds axes another 585 roles

RBS cuts over 200 Irish IT jobs; Lloyds axes another 585 roles

21 January 2010  |  10415 views  |  2 comments
More jobs to go at Lloyds as Equitable Life shifts business to HCL

More jobs to go at Lloyds as Equitable Life shifts business to HCL

23 November 2009  |  8458 views  |  0 comments
IT staff to go as Lloyds cuts another 5000 jobs

IT staff to go as Lloyds cuts another 5000 jobs

10 November 2009  |  8511 views  |  0 comments
Direct Line and Intelligent Finance on the block in UK banking shake-up

Direct Line and Intelligent Finance on the block in UK banking shake-up

03 November 2009  |  11748 views  |  0 comments
Lloyds cuts 200 insurance jobs

Lloyds cuts 200 insurance jobs

25 August 2009  |  5620 views  |  0 comments
IT staff in firing line as Lloyds plans another 1200 job cuts

IT staff in firing line as Lloyds plans another 1200 job cuts

16 July 2009  |  7390 views  |  0 comments
Lloyds to cut 2100 more jobs; slashes IT contractor pay

Lloyds to cut 2100 more jobs; slashes IT contractor pay

30 June 2009  |  7522 views  |  0 comments
Lloyds cuts 1660 jobs and closes all C&G branches

Lloyds cuts 1660 jobs and closes all C&G branches

09 June 2009  |  7519 views  |  2 comments
Lloyds to shed a further 510 jobs

Lloyds to shed a further 510 jobs

03 June 2009  |  6968 views  |  0 comments
Direct channel integration costs 210 Lloyds jobs

Direct channel integration costs 210 Lloyds jobs

22 May 2009  |  9058 views  |  0 comments
Lloyds TSB Asset Finance selects C&W for call centre overhaul

Lloyds TSB Asset Finance selects C&W for call centre overhaul

28 January 2009  |  5562 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Download the paper nowvisit dh.comvisit www.events.sap.com

Top topics

Most viewed Most shared
Banks must get on AI bandwagon now – new Finextra researchBanks must get on AI bandwagon now – new F...
9173 views comments | 22 tweets | 31 linkedin
Google and PayPal partner for mobile shopping by fingerprintGoogle and PayPal partner for mobile shopp...
9147 views comments | 28 tweets | 28 linkedin
Twins fool HSBC voice biometrics - BBCTwins fool HSBC voice biometrics - BBC
8922 views comments | 21 tweets | 24 linkedin
BBVA brings info and payments to social and messaging networksBBVA brings info and payments to social an...
6741 views comments | 11 tweets | 17 linkedin
UK SMEs missing out on £1.6bn by not accepting 'next gen' paymentsUK SMEs missing out on £1.6bn by not...
6628 views comments | 24 tweets | 18 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job