Lloyds Banking Group to axe 9,000 jobs and 200 branches

Lloyds Banking Group is to axe 9,000 jobs and 200 branches over the next three years.

By Michael Broomhead
Tuesday, 28th October 2014, 12:22 pm

The bank – which has several branches in Derbyshire – said the cuts come as consumers’ habits continue to shift towards online banking services.

Lloyds said it would be investing in remote advice services for customers, who would be increasingly expected to use online banking or self-service facilities within branches instead of dealing with staff face-to-face.

A spokesman for Lloyds was unable to reveal which branches are set close but said this information would be revealed in due course.

Rob MacGregor, national officer of the Unite union, said: “These are deeply unsettling times for Lloyds staff, who face yet another round of job cuts and a future of uncertainty.”

The news was contained in its latest results which showed a nine-month profit before tax of £1.61billion – five per cent down on the same period last year.

More than ten million Lloyds customers currently bank online while five million use its mobile banking services.