Lloyds accused of betrayal as 1,200 jobs go
Lloyds accused of betrayal as 1,200 jobs go
Thursday 16th July 2009
Unions have accused Lloyds Banking Group of "betraying the taxpayer" with the shedding of 1,200 jobs.The cuts, which will be mostly felt in IT departments following the joining of Clerical Medical and Scottish Widows, mean 8,200 staff have lost their jobs since the merger of Lloyds TSB and HBOS late last year.
The Unite union says it felt it was living in groundhog day given the latest raft of cuts, which come despite the merged bank expanding its overseas operations.
"Today staff in the IT, life and pensions and operations departments face the reality that LBG is operating centres abroad while they are told that their jobs are redundant," said the union's Rob MacGregor.
"It is essential that these taxpayer funded institutions are radically overhauled to ensure that the sector's corporate governance regime is fit for purpose."
A statement from Lloyds Banking said compulsory redundancies would be a "last resort".
"The group's preference is to use natural turnover and to redeploy people wherever possible to retain their expertise and knowledge," the bank said.
"Where it is necessary for colleagues to leave the company, it will look to achieve this by voluntary severance."
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