Lloyds axes 625 roles and 21 branches
Lloyds Banking Group has announced that it is cutting a further 625 jobs and closing 21 branches as part of ongoing cost-saving initiatives.
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However, Lloyds said the bank will also create 195 new roles.
In February, Lloyds cut 1,755 roles and 29 branches as part of its three year cost cutting plan.
In November 2014, Lloyds announced a total of 9,000 job losses and 200 branch closures would take place as customers' habits continued to shift towards online banking services.
The cuts will equate to roughly a tenth of its entire workforce.
A Lloyds spokesperson said:
“As part of our Group Strategic Review, we also announced 200 branch closures over the three year period. Today we can confirm that we will be closing 21 branches during July 2016 as part of this strategy.
“Branches will continue to play an important role in our multi-channel approach to meeting customer needs and we expect to continue to have the biggest branch network in the UK.”
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