Lloyds Banking Group is axing 6000 jobs but creating 8000 new ones as part of a multi-billion pound technology investment programme, according to reports.
In a move first reported by Sky News, the job cuts will come from a host of areas across the bank, while the new positions will be focused on digital expansion.
Specifically, many of the new roles will be in Lloyds' group transformation unit, which is tasked with a £3 billion, three year effort to transform the business into a "digitised, simple, low risk, customer focused, UK financial services provider".