Lloyds Cuts 850 More Jobs

What's Next In Payments®
5:15 PM EDT May 9th, 2013

Lloyds Banking Group announced that it is making 850 job cuts in addition to closing a large office in Essex, reports BBC News. Lloyds has already announced a total of 2,750 job losses in 2013. The bank stated they would cut 600 positions at the Essex office and the remaining 250 would be cut from various commercial and insurance departments.

“Lloyds Banking Group is committed to working through these changes with employees in a careful and sensitive way. All affected employees have been briefed by their line manager today. The groups recognized unions were consulted prior to this announcement and will continue to be consulted,” the bank said in a statement.

Read the full story here.

Topics:
Comments
Also by This Author
What's Hot
Mobile Commerce
MasterCard CEO: MasterPass Starts Where Apple Pay Stops
News
Credit Unions, Retail Groups Finger-Pointing On Payment Security
Merchant Innovation
Q3 Results Highlight Groupon’s Growing Pains
International
Alibaba Protects Its 11/11 “Singles Day” Turf
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
International
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
Apple Pay Tracker
Apple Pay Faceoff
International
Korean Tech Companies Shifting B2C Focus to B2B Market
Mobile Commerce
MasterCard CEO: MasterPass Starts Where Apple Pay Stops
Acquiring
B2B Pricing Optimization Company Acquired
View All Articles ››