Lloyds axes further 325 as group’s job losses total 22,000

The group, which bought HBOS in 2008 under a Government-brokered deal, said the latest cuts will affect business support roles in its wholesale and group operations.

The bulk of the jobs will be lost in Scotland, the Midlands and the South East, with only about five roles going in Halifax.

Unite said the cuts take the number of job losses since the merger to a “staggering” 22,000.

Lloyds, which is 41 per cent owned by the taxpayer, said in a statement: “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.

“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.”

David Fleming, Unite’s national officer, said the union was “appalled” at the cuts. “Staff morale is at an all-time low with the constant flow of job cuts and the workforce feel they have no job security,” he said.

“The union is demanding to know why when the new chief executive, Antonio Horta-Osorio, has ordered a strategic review of the entire business, he is sanctioning this method of drip feeding job losses.”

On Monday Lloyds was told by the Independent Banking Commission it should sell more branches to make the high street more competitive. This would be on top of 600 branch sales enforced as a result of European Union rules on taking state aid.