Hundreds of Lloyds banks to downsize to 2 members of staff

Lloyds Banking Group is to shrink the size of hundreds of its branches, operating with just two members of staff and abandoning counters for computers.

According to The Guardian, these ‘micro-branches’ will have self-service machines that customers can pay-in cash and cheques to, and they will be able to talk to mortgage advisers through video links.  

20 larger banks in city centres that offer a wider range of services will be opened, as well as mobile branches that will operate out of vans. The first ‘micro-branch’ was piloted at an existing branch near St Paul’s Cathedral in London.

The rise of online banking has prompted banks across the country to rethink their high-street strategy. Lloyds, who owns Bank of Scotland and Halifax, plans to close 400 branches - resulting in over 9,000 job losses.