18 January 2012 – another 700 jobs cut at Lloyds Banking Group

On a day when unemployment in the UK reached its highest point for 16 years, the Lloyds Banking Group (LBG) has announced that it intends to cut a further 700 roles.

The cuts involve six separate parts of the business and Accord members in 24 locations with the biggest impacts in Belfast, West Yorkshire and Scotland.

The job reductions form part of the 15,000 that were announced last year as an outcome of the bank’s Strategic Review.

The union will be contacting every member who is affected by today’s announcement personally and Accord officials will be providing advice and support.

Details are available on request from krisna.lakhani@accordhq.org.

General secretary, Ged Nichols said: “Regrettably, the New Year has started with yet more job losses. This is a worrying time for all working people in the UK in view of the economic climate and increasing unemployment.

“We will fully support all of our members through the change processes, providing them with the maximum level of help and doing everything we can to avoid compulsory redundancies.

“Today’s announcement demonstrates how important it was for Accord to secure an extension to the Security of Employment Agreement with the Lloyds Banking Group at the end of last year. This important Agreement enables the union and LBG to reassure staff that if they are affected by a future change programme, decent voluntary redundancy terms will remain available.”

The extension of the Security of Employment Agreement was announced here: http://accord-myunion.org/1-december-2011-job-security-agreement-extended/

Any queries should be referred to ged.nichols@accordhq.org