Lloyds announces job cuts: Banking giant to shed 1,000 staff

Published on Thursday 23 April 2009 13:26

THE finance industry was dealt another huge blow today with news that Lloyds Banking Group is to axe almost 1,000 jobs.

Unions urged the newly-formed banking giant to do all it could to avoid compulsory redundancies but warned that the job cuts would cause uncertainty for staff.

Rob MacGregor, national officer of Unite, said: "Unite see this announcement as the first test for the newly-formed Lloyds Banking Group (LBG) to demonstrate its commitment to avoid compulsory redundancies.

"For the 985 people in LBG to learn that they are to lose their jobs will cause uncertainty for staff across the company. Unite the union is calling for LBG to ensure that the integration programme concentrates on saving jobs and preventing redundancies.

"For some months now the employees of the company have had to live with almost daily speculation about the security of their jobs and the long-term plans for the company. Today the workforce must face the horrendous reality that integration will mean that some will lose their jobs.

"Unite is pressing for LBG to ensure there is full consultation with the union ahead of any decisions which will impact on employment levels across the group.

"The company must be creative in finding means of achieving cost savings, with re-deployment and re-training measures as central in its strategy. The union will oppose any compulsory job losses at the company."