Cost-cutting Lloyds to axe 360 more jobs

Dozens of jobs are under threat in Yorkshire in the shake-up, which will also involve a further 140 staff being transferred to another company.

Trade union Unite said the move will “hit the affected employees hard” and increase the workload for the staff who remain.

Lloyds Banking Group has announced 27,500 job losses since it began integrating HBOS in January 2009.

The 360 job losses will affect staff in the company’s group functions, wholesale, retail and insurance divisions as part of its “ongoing integration programme”, while 140 workers will transfer to financial services firm State Street under a new investment accounting outsourcing arrangement.

A Lloyds spokesman said that 40 roles were expected to be lost in Halifax, and 25 in Leeds. The spokesman stressed that a consultation process had started.

“Lloyds Banking Group is committed to working through these changes with employees in a careful and sensitive way.

“All affected employees have been briefed by their line manager today,” the bank said. “The group’s policy is always to use natural turnover and to redeploy people wherever possible to retain their expertise and knowledge within the group.

“Where it is necessary for employees to leave the company, it will look to achieve this by offering voluntary severance. Compulsory redundancies will always be a last resort.”