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04 November 2020

A damaging blow as 1,000 jobs to go

Restructure news in Lloyds Banking Group
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Significant change programme announced

Lloyds Banking Group has announced it will cut c1,070 jobs while creating c340 new ones. A net job reduction of c730.

There are 16 different projects, but the biggest impacts are in the following divisions:

The job losses are a real blow as people continue to deal with the impacts of the pandemic and lockdowns – making the search for alternative roles very difficult for those facing redundancy at a time of increasing unemployment.

The job losses will be managed through a joint agreement between Lloyds Banking Group and Accord and Unite which was recently extended to the end of 2023.

“Our immediate concern is for the union members who may be at risk of redundancy as a result of the changes. We’ll be contacting all of the Accord members who are impacted by today’s news to offer advice and support. The pandemic and the state of the economy make this a horrible time to be facing unemployment so we’ll be working with Lloyds banking Group to maximise the number of redeployment opportunities and to ensure that the number of compulsory redundancies is a low as possible.” - Ged Nichols

Any queries should be sent to [email protected]

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