Lloyds Banking Group today announced it was axing 48 jobs in the finance division at Trinity Road, Halifax.
They are part of 850 role reductions acrossed the group and form part of the reductions previously announced in the Group’s strategic review in 2011.
An office in Southend, Essex, will shut with the loss of 600 jobs and the remainder will go in the commercial and insurance operations.
Around 275 roles are being created, the majority of which are in Belfast and Pitreavie, Scotland.
Today’s announcement is separate to that announced earlier this week regarding Sainsbury’s Bank which will involve the move of 370 roles to Sainsbury’s.
The bank said all affected employees had been briefed by their line manager and talks are continuing with the unions.
“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,” said a spokesperson.
“Where it is necessary for employees to leave the company, it will look to achieve this by offering voluntary redundancy. Compulsory redundancies will always be a last resort. In fact, during 2012, around only a third of role reductions led to people leaving the Group through redundancy.”
Lloyds has now announced 2,750 job losses this year and that has brought criticism from unions which want the bank to review its policy following an improved business performance.
Unite union’s national officer Dominic Hook said: “Lloyds is celebrating a return to profit and there are hints of dividend payouts to shareholders, but the bank’s workers are in constant fear that they will be next for the chop.
“This is no way to treat staff. It’s time to urgently review this continuous tide of cuts and build the bank’s strength.”