Lloyds Banking Group is to axe more than 1,000 jobs, including some 200 in Scotland, in a move attacked as “unacceptable” by union leaders.
The cuts are part of 15,000 job losses announced in June 2011 and are spread across the group’s retail, risk, operations and commercial banking divisions.
Lloyds, which is 33 per cent owned by the taxpayer, said 1,080 roles were being cut, with more than 310 staff set to transfer to new employers. In Scotland, 209 posts will be axed.
A spokesman 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.
“Where it is necessary for employees to leave the company, it will look to achieve this by offering voluntary redundancy. Compulsory redundancies will always be a last resort.”
Unite national officer Rob MacGregor said almost 35,000 Lloyds workers have lost their jobs since 2008 and staff would be “devastated” at the latest cuts.
He added: “Lloyds Banking Group is well on the road to recovery, with the chief executive being recently rewarded handsomely with a share bonus in the region of £2.5 million, yet staff are being made redundant.”
Barclays last night declined to comment on reports it was planning to axe several hundred jobs at a senior level in its investment banking business, on top of 1,700 losses made in the division last year.