Lloyds Banking Group is to cut another 2100 jobs in the UK, with the axe falling on operational support functions and payments services in offices across the country.
The bank says the jobs will be shed over the next three years as it merges operations and wholesale functions across Lloyds TSB and HBOS.
Lloyds will be seeking to reduce cost and duplication having merged business with HBOS and you can understand what they are seeking to achieve, hopefully despite these cuts there might be some work (even if it is short term) to assist with the integration and consolidation of the IT infrastructure. We’ll have to see, it’s an activity that is happening across the banking sector as a result of the many mergers and acqusitions over recent months.
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