Lloyds bank to cut over 900 jobs

Lloyds bank had announced it will be cutting 930 jobs, making it the latest high-street brand to reduce staff numbers.

In a statement, the bank said the majority of its latest job cuts would be “within commercial banking, the chief information office, risk, community banking and insurance and wealth.”

However, the group is creating an extra 465 roles, meaning the net job loss is 435 positions.

“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,” Lloyds said. “Where it is necessary for employees to leave the company, we will look to achieve this by offering voluntary redundancy. Compulsory redundancies will always be a last resort.”