Lloyds cuts 325 more jobs, union spokesman appalled

In a move that has left one Unite union spokesman appalled, Lloyds Banking Group has announced an additional 325 job cuts.

Union leaders have risen their voices in anger in the wake of the provider of personal and business bank accounts announcing additional job losses as part of its ongoing programme to integrate what has now risen to 22,000 job losses since 2009.

The High Street banking group, which is 41 per cent taxpayer owned, remarked that the latest batch of job cuts would be undertaken across its business support staff within its group and wholesale operations branches in the UK.

The banking group issued a statement in conjunction with the job loss announcement which commented that the group is committed to working through these new changes with employees in both a sensitive and careful manner.  Lloyds also stated that the three unions it recognises – Unite, LTU, and Accord – were consulted before the announcement.  Lloyds plans to continue to consult the unions throughout the entire process.

The Lloyds statement added that the policy of the group has been to always utilise natural turnover and to redeploy staff whenever possible in order to retain their knowledge and expertise within the greater banking group.  Lloyds will be urging its staff to leave with voluntary severance in the event employees need to be let go it continued.  Moreover the bank insisted that compulsory redundancies have always been used as a last resort.

Unite national officer David Fleming stated that the trade union was appalled at the new round of job cuts.  Mr Fleming stated that the workforce feels that their job security is nonexistent with the constantly rising number of job cuts.

Unite has demanded to know why António Horta-Osório, the newly appointed Lloyds chief executive, has decided to order a strategic review of the entire group yet still sanctions the constantly rising job loss levels.  Unite called for an immediate halt to these job cuts until after the review is concluded.

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