Lloyds Banking Group to Cut More Than 1,200 Jobs
October 12 2016 - 8:52AM
Dow Jones News
By Razak Musah Baba
LONDON--Lloyds Banking Group PLC (LLOY.LN) said Wednesday that
it is shedding more than 1,200 jobs as part of the bank's ongoing
strategy to cut costs.
"Lloyds Banking Group is Wednesday announcing 1,230 net role
reductions as part of the total role reductions already announced
in October 2014 as part of the group's 2015-17 strategy," the
company's spokesperson said.
The reductions are within Group Operations, Retail, Customer
Products & Marketing, Finance and Risk Divisions. The net total
is inclusive of 110 new roles that will be created across these
business areas, the company added.
Lloyds Banking Group, which is 9% owned by the British
government, is the U.K.'s biggest retail bank.
(Max Colchester contributed to this article.)
-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
(END) Dow Jones Newswires
October 12, 2016 08:37 ET (12:37 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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