According to the BBC, Lloyds Banking Group has announced 850 job cuts in addition to the closing of its large office in Essex. Having already announced 2,750 job losses in 2013, the bank has stated 600 positions would be cut from Essex office and a remaining 250 from various commercial and insurance departments.
“Lloyds Banking Group is committed to working through these changes with employees in a careful and sensitive way. All affected employees have been briefed by their line manager today. The groups recognized unions were consulted prior to this announcement and will continue to be consulted,” the bank said in a statement.
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