• From The BBC:

    Lloyds Banking Group is to cut a further 200 jobs, taking the total job losses to 7,500 this year.The cuts will come in the general insurance arm of Lloyds, which is 43%-owned by the government. The announcement came week after the bank said it was reviewing its decision to close its Cheltenham & Gloucester subsidiary, possibly saving 833 jobs. “We have no confidence in this bank’s confused strategy,” said Rob MacGregor of the union Unite. Philip Loney, managing director of Lloyds General Insurance unit said, “We recognise that this is difficult news for our affected colleagues.” “We are committed to working through these changes with our colleagues carefully and sensitively and will seek to use natural turnover and redeployment wherever possible.” ‘Soul destroying’The cuts will come in the insurance unit’s offices in Newport, South Wales and West Yorkshire. “This steady stream of announcements and cuts is soul destroying for the workforce at this state-owned bank and it must end,”…

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    Posted by Jon @ 11:33 am

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