Lloyds to axe 570 UK jobs

Lloyds is to axe 570 jobs and outsource more than 560 posts under further organisational changes, the UK banking giant announced today.

The jobs will be lost from the group’s wholesale, retail, insurance and human resources divisions, affecting many parts of the UK, including Chester (140 jobs), Scotland (90), Halifax (85), London (50) and Manchester (50).

The cuts take the total number of jobs lost since Lloyds merged with TSB two years ago to more than 26,700.

Unite trade union said the latest news will be met with “despair” by the bank’s staff.

Lloyds also announced that a further 560 jobs will be outsourced to other firms, affecting cheque and credit processing, mailroom and payroll functions.