Unite, Britain's biggest trade union, has condemned Lloyds TSB for announcing 59 redundancies at the company's insurance group, based in Newport, Wales.
Steve Pantak, Unite Regional Officer said: "This is highly premature and totally unacceptable. Lloyds must reconsider their position even at this late stage and guarantee no compulsory redundancies. We strongly believe that any cost savings can be met with natural wastage and voluntary means.
"This is a bad omen of what is to come when Lloyds TSB merges with HBOS."