Lloyds Banking Group to Reorganize Divisions, Create Net 55 Jobs -Union
September 05 2018 - 11:37AM
Dow Jones News
By Adam Clark
Lloyds Banking Group PLC (LLOY.LN) is set to reorganize a number
of its business divisions, in changes that will lead to a net
increase of 55 new roles, according to trade union Accord.
The trade union said Lloyds intends to cut 380 jobs but create
435 new roles, in a reorganization affecting its
commercial-banking, people-and-productivity, retail, and
transformation divisions.
Accord is a specialist union for financial-services
employees.
"Whilst on the face of it the plans look positive, not all
existing colleagues will have the transferable skills for the newly
created roles and will mean some will face redundancy," Accord
said.
Lloyds wasn't immediately available to comment when contacted by
Dow Jones Newswires.
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
September 05, 2018 11:22 ET (15:22 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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