Page last updated at 11:34 GMT, Wednesday, 3 June 2009 12:34 UK

Lloyds bank set to shed 530 jobs

Lloyds Banking Group
Lloyds completed its takeover of HBOS in January

Lloyds Banking Group plans to shed 530 jobs and close one site in the UK. All jobs will go before year-end.

Some 210 people will lose their jobs when a customer service unit in Kent is closed, of which 190 are full-time positions, the bank said.

Another 320 positions will go from other retail operations throughout the UK, but no details of where the cuts would fall were revealed.

The move comes on top of the 625 job cuts announced last month.

Lloyds Banking Group was created through the merger of Lloyds TSB and HBOS at the start of the year.

In May the bank said it would axe 625 posts in the UK as the bank merged its corporate and small-business lending units.

Taxpayer

Ged Nichols, general secretary of union Accord, said: "Today's announcement is further bad news for employees of Lloyds Banking Group's Retail Banking Division."

"We believe that UK taxpayers will expect the bank to work in partnership with Accord and the other unions representing its employees to minimise unnecessary unemployment, particularly given the support that UK taxpayers have provided to the bank."

The Treasury owns around 43.4% of the merged bank after it was bailed out by the government.

The firm said the work done at the customer service unit in Chatham, Kent will be transferred to other retail sites across the UK.

"Accord argued with LBG to try to preserve the operation, but, ultimately they decided to press on with closure," the union said.



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