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Lloyds confirms 9,000 job cuts and branch closures

  • The Lloyds Banking Group has given confirmation of 9,000 job cuts and the closing of 150 branches in the next three years, according to media reports.

    The new job losses constitute around 10% of the bank’s workforce. The group had cut 43,000 jobs since 2008, before the latest announcement.

    Lloyds has reported £1.61 billion in pre-tax profits for the nine months ending September 30.

    The job losses and closures are linked to customers moving to mobile banking, it said. Over the next three years, the group will invest £1 billion in digital technology.

     

    Tagged as: Lloyds Banking Group, job cuts, branch closures, mobile banking, digital technology, business news