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.

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