Lloyds Banking Group to cut another 800 jobs
Lloyds Banking Group to cut another 800 jobs
Monday 23rd November 2009
Lloyds Banking Group is set to cut another 800 jobs, bringing their job losses for the year to 15,000.Reports claim posts at Aylesbury in Buckinghamshire, where Lloyds is the largest private sector employer, are set to go by the end of 2009.
After rescuing troubled HBOS earlier this year, Lloyds has made more than 15,000 cuts to its staff.
Lloyds said "most" of the jobs going at Aylesbury were contained in a previous announcement about plans to merge support functions for life, pensions and investments.
In addition, Equitable Life has told Lloyds Banking Group its contract for administrative services will come to an end.
Equitable Life, which uses the centre at Aylesbury for administrative services, is transferring its contract to HCL, an Indian company, in March 2011.
Chris Wiscarson, chief executive of Equitable Life said: "This is one of the most important decisions in the society's history.
"HCL has an impressive reputation and I am confident that they will provide great service and great value to policyholders. I want to help restore policyholders' savings and this is an important step in that direction.
"I very much regret the concern, uncertainty and disruption these changes will cause for many people in Aylesbury. We will keep those people fully informed and supported."
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