News article

Further job cuts announced by Lloyds

Further job cuts announced by Lloyds
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Lloyds Banking Group has revealed it is cutting a further 5,000 jobs.

The lender said the move is part of its continued HBOS integration, with the positions being removed before the end of 2010.

A number of employees at the bank may be left looking for ways to earn extra money as a result of the move, which will see 2,600 permanent staff members made redundant.

Agency and temporary workers make up the remainder of those who will lose their positions.

"This country's financial sector should be looking towards the future, rather than continuing to slash jobs," remarked national officer of trade union Unite Rob MacGregor following the announcement.

He added that the decision highlights "the depth of corporate arrogance" at Lloyds.

According to the BBC, the lender - which is 43 per cent owned by the taxpayer - has now announced 10,000 job losses since the start of 2009.

On the stock market, shares in Lloyds were up 0.04p to 85.25p at 10:30 GMT.

Posted by Chris WeaverADNFCR-1681-ID-19454133-ADNFCR