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Lloyds bank cuts another 200 jobs to take tally to 26,200.
Lloyds Bank said the job losses will affect staff in its insurance arm. Photograph Peter Macdiarmid/Getty Images
The job toll at Lloyds Banking Group has hit 26,200 after the bailed-out bank announced another 200 job losses across Britain and Ireland.
Unions called on the bank, which rescued HBOS at the height of the banking crisis, to call a halt to the cuts now that António Horta-Osório has arrived from Santander to become chief executive next month.
David Fleming, Unite national officer, said: "Unite is calling on the new boss to step in and stop these 200 jobs being cut. It is inexcusable that while Horta-Osório is one of the best-paid executives in Britain with a pay package of £8.3m a year, staff earning an average salary of less then £20,000 are joining the dole queues."
Lloyds said the cuts were largely taking place within its insurance arm but the union said they were also hitting group operations and wholesale. The cuts will be felt in Chester, Leicester, Edinburgh, Newport, Copley in West Yorkshire and Shannon in Ireland, where 80 of the 200 jobs are being lost.
Eric Daniels, the outgoing chief executive, has said that 12% of the cuts have taken place as result of compulsory redundancies. When he made these remarks, about 16,000 roles had been cut, indicating that just under 2,000 staff had been forced out through compulsory redundancies.
Lloyds said: "The group's policy is always to use natural turnover and to redeploy people wherever possible to retain their expertise and knowledge within the group. By making less use of contractors and agency employees, it reduces the impact on permanent staff. Where it is necessary for employees to leave the company, it will look to achieve this by offering voluntary severance. Compulsory redundancies will always be a last resort."
Lloyds bank cuts another 200 jobs to take tally to 26,200.
Lloyds Bank said the job losses will affect staff in its insurance arm. Photograph Peter Macdiarmid/Getty Images
The job toll at Lloyds Banking Group has hit 26,200 after the bailed-out bank announced another 200 job losses across Britain and Ireland.
Unions called on the bank, which rescued HBOS at the height of the banking crisis, to call a halt to the cuts now that António Horta-Osório has arrived from Santander to become chief executive next month.
David Fleming, Unite national officer, said: "Unite is calling on the new boss to step in and stop these 200 jobs being cut. It is inexcusable that while Horta-Osório is one of the best-paid executives in Britain with a pay package of £8.3m a year, staff earning an average salary of less then £20,000 are joining the dole queues."
Lloyds said the cuts were largely taking place within its insurance arm but the union said they were also hitting group operations and wholesale. The cuts will be felt in Chester, Leicester, Edinburgh, Newport, Copley in West Yorkshire and Shannon in Ireland, where 80 of the 200 jobs are being lost.
Eric Daniels, the outgoing chief executive, has said that 12% of the cuts have taken place as result of compulsory redundancies. When he made these remarks, about 16,000 roles had been cut, indicating that just under 2,000 staff had been forced out through compulsory redundancies.
Lloyds said: "The group's policy is always to use natural turnover and to redeploy people wherever possible to retain their expertise and knowledge within the group. By making less use of contractors and agency employees, it reduces the impact on permanent staff. Where it is necessary for employees to leave the company, it will look to achieve this by offering voluntary severance. Compulsory redundancies will always be a last resort."
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