Lloyds Cuts 850 More Jobs

What's Next In Payments®
5:15 PM EST 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
Alternative Financial Services
Ant Financial To IPO In 2016
Merchant Innovation
California Startup SimpleFi Hopes to Challenge Payday Lenders with Employee Targeting
Consumer Finance
Visa Europe to Spend EUR 200 Million on Digital Payment Technology
B2B Payments
Slyce Snatches Coupon App SnipSnap for $6.5 Million
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
Cool
Tapping Into The Two Screen Consumer
Alternative Financial Services
Ant Financial To IPO In 2016
News
Bed Bath & Beyond Finds Its Money in the Latter
Merchant Innovation
California Startup SimpleFi Hopes to Challenge Payday Lenders with Employee Targeting
View All Articles ››