Lloyds Axes Further 1,340 Jobs Amid Cost-cutting

[kreslik.news]

Lloyds Banking Group (LLOY.L), which is still 9%-owned by British taxpayers, has accelerated its job-cutting scheme, axing a further 1,340 jobs, even as it reported creating 110 new roles, bringing the net jobs lost to 1,230.

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The posts that are being axed are part of the 9,000 job cuts that was first announced by the bailed-out bank in October 2014, and would also result in the closure of 200 branches as it progresses an ongoing restructuring program to cut costs and save an extra £400 million ($490 million) ... (read more)