Direct channel integration costs 210 Lloyds jobs
22 May 2009 | 9315 views | 0
Lloyds Banking Group is cutting around 210 UK jobs after integrating the Web, phone and mobile banking channels of recently acquired Hbos.
The bank says the jobs will go by the end of January as it combines the support functions of Hbos and Lloyds TSB retail direct channels. Customer facing positions are not affected.
Rob Devey, head, direct channels, Lloyds Banking Group retail division, says: "We are bringing together our support functions to create a more streamlined business to help meet the needs of our Retail division."
The bank says its "preference" is to make less use of contractors, use natural turnover, and redeploy people wherever possible. Where staff have to leave, it will look to voluntary severance, with compulsory redundancies a last resort.
Finance sector union Unite reacted angrily to the news, which comes on top of 625 job cuts announced earlier this week.
"Unite is angry that employees continue to live with ambiguity about their futures. The bank must, as a matter of urgency, tell staff of its long-term plans for the workforce," says Rob MacGregor, national officer, Unite.
Since Lloyds and Hbos merged, Unite says 2436 job losses have been announced.