Lloyds is cutting 1,230 jobs in its group operations in the UK, retail, marketing and finance divisions as part of previously announced three-year strategy.

Lloyds Banking Group is to axe almost 1,000 jobs and close three offices the UK in a “devastating” blow to workers, one of the staff unions said today.

Union leaders reacted with anger today to the “terrible news” that banking giant Lloyds is to axe another 1,300 jobs.