Lloyds announces jobs cull

Published on Wednesday 3 June 2009 12:27

The finance industry was hit with a fresh jobs blow today when staff were told that Lloyds Banking Group was to axe more than 500 posts and close one of its sites.

The Accord union described the job cuts as "devastating" and said every effort should be made to avoid compulsory redundancies.

A former Halifax processing centre near Chatham in Kent will close with the loss of 210 jobs, 30 jobs will be lost in London and a similar number in Birmingham, while the rest will be spread across the country, said the union.

Ged Nichols, general secretary of Accord, said: "Today's announcement is further bad news for employees of Lloyds Banking Group's Retail Banking Division. Accord believes that LBG has a responsibility to work with us to do everything we can jointly to avoid compulsory redundancies.

"We believe that UK taxpayers will expect the bank to work in partnership with Accord and the other unions representing its employees to minimise unnecessary unemployment, particularly given the support that UK taxpayers have provided to the bank."

Mr Nichols said the announcement was particularly bad news for the economy of the Medway towns, adding: "These jobs are well-paid and provide good employment in an area of the country that is already suffering from above-average unemployment rates.

"Accord argued with LBG to try to preserve the operation, but, ultimately they decided to press on with closure."

The Kent site will close by November, said the union.