Lloyds closes another 49 branches
10 November 2016 | 4732 views | 1
Lloyds Banking Group is putting a fleet of mobile branches on the road in a bid to partially offset the closure of another 49 permanent sites and axing of hundreds of jobs.
The closures are just the latest stage of a three year programme to shut 4000 branches by the end of next year as the state-backed bank bids to cut costs and retool for the digital age.
Meanwhile, 665 jobs are going as part of chief executive António Horta-Osório's plan to slim the 75,000 strong workforce by 12,000. The latest loses will be partially offset by the creation of 145 new roles.
To help compensate for the branch closures, eight mobile replacements will begin operating next spring, driving around communities "to help ensure there is a continuity of branch banking services available in some of those areas affected by branch closures".
Rob MacGregor, Unite union’s national officer, says: "It is alarming that Lloyds are continuing this programme of job cuts and branch closures. Unite have expressed to the bank that these ongoing cuts hurts our members and inevitably impacts customers."