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The Bank announced that another 585 positions will be removed by March 2011 as it looks to make changes to its retail and wholesale operations.
It is to shed 455 jobs with the closure of its Black Horse Personal Finance Centres, while relocation and redeployment will see the size of its retail banking workforce shrink by 130.
In a statement, Lloyds insisted that it will use compulsory redundancies as a "last resort", opting instead to achieve the reductions by "offering voluntary severance and by making less use of contractors and agency colleagues".
National officer of trade union Unite Rob MacGregor criticised the move, stating that he is "deeply disappointed".
He issued a warning to Lloyds, urging it not to repeat the approach it took last year, when the bank was making "weekly announcements of job losses".
Shares in the bank were down 2.02 per cent to 55.36p in the afternoon session of stock market trading.
Posted by Greg Secker
