Unions launch fresh attack as Lloyds job losses hit a 'staggering' 22,000

Published on Thursday 14 April 2011 18:38

Banking giant Lloyds has come under fresh attack from union leaders after announcing a further 325 job losses as part of its "ongoing integration programme".

Lloyds Banking Group, which is 41 per cent owned by the taxpayer and owns the Bank of Scotland, said the latest cuts will affect its business support functions within its wholesale and group operations divisions across the UK.

Unite said the cuts take the number of job losses since the formation of Lloyds in 2009 to a "staggering" 22,000.

The bank said in a statement yesterday: "Lloyds Banking Group is committed to working through these changes with employees in a careful and sensitive way. All affected employees have been briefed by their line manager today.

"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 severance."

David Fleming, Unite's national officer, said the union was "appalled" at the cuts, adding: "Staff morale is at an all-time low with the constant flow of job cuts and the workforce feel they have no job security.

"The union is demanding to know why when the new chief executive, Antonio Horta-Osorio, has ordered a strategic review of the entire business, he is sanctioning this method of drip feeding job losses. Unite is calling for an immediate halt to these job losses until the review is concluded."