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Lloyds announces jobs cull

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Published Date: 03 June 2009
The finance industry was hit with a fresh jobs blow today when staff were told that Lloyds Banking Group was to axe more than 500 posts and close one of its sites.
The Accord union described the job cuts as "devastating" and said every effort should be made to avoid compulsory redundancies.

A former Halifax processing centre near Chatham in Kent will close with the loss of 210 jobs, 30 jobs will be lost in London and a similar number in Birmingham, while the rest will be spread across the country, said the union.

Ged Nichols, general secretary of Accord, said: "Today's announcement is further bad news for employees of Lloyds Banking Group's Retail Banking Division. Accord believes that LBG has a responsibility to work with us to do everything we can jointly to avoid compulsory redundancies.

"We believe that UK taxpayers will expect the bank to work in partnership with Accord and the other unions representing its employees to minimise unnecessary unemployment, particularly given the support that UK taxpayers have provided to the bank."

Mr Nichols said the announcement was particularly bad news for the economy of the Medway towns, adding: "These jobs are well-paid and provide good employment in an area of the country that is already suffering from above-average unemployment rates.

"Accord argued with LBG to try to preserve the operation, but, ultimately they decided to press on with closure."
The Kent site will close by November, said the union.

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  • Last Updated: 03 June 2009 11:31 AM
  • Source: scotsman.com
  • Location: Scotland
  • Related Topics: Lloyds TSB
 
1

Elephant,

Linlithgow 03/06/2009 13:57:34
3 hours posted,not one comment. When this story was first mooted a month ago, many bloggers piled in to decry the inevitable job losses in Scotland. At the time I noted that Lloyds would steer clear and the jobs would go down South where they'd get less political heat. Hey Presto. Any solidarity for our English friends in the dole queue?
2

,

03/06/2009 14:30:31
Comment Removed By Administrator
Reason:
3

Tartan Viking,

03/06/2009 14:32:42
#1. Yes. 270 jobs confirmed above will be lost in England, while the rest will be spread across the country. I heard a further 170 were going in Edinburgh.

So sad news all round.
4

Tartan Viking,

03/06/2009 14:35:08
#1. Anyway. Edinburgh is close to finished as a 'Financial Centre'. Not like London. Finance jobs will always be there.

The impact on job losses per capita is much heavier up here.
5

Elephant,

Linlithgow 03/06/2009 14:57:46
4 & 2
Phew, thought everyone was sunbathin... I disagree #4 -there's been a disportionate effect on London 'cause of its exposure to wholesale & international banking - 40,000 jobs are expected to go there this year, on top of 30,000 last year. I don't doubt Edinburgh will be affected, but since the major banks here have been bailed-out, there is less likely to be a cull - and the Edinburgh property market is already agreeing. And #2 - as for HBOs - I wouldn't want to live in Halifax right now. RBS, remember, was most punitive on its Manchester & Bristol offices in the first throes of the crash.
6

Phil o Brian,

03/06/2009 15:30:03
5# I deal with some people in Edin who work for HBOS in corp finance. They believe that 1 out of every 2 in their dept are going to get the axe. They are being told the posts available and they all have to reapply for a job. Process is just kicking off, so no announcement yet. c400 jobs to go and none of the other banks are recruiting.
Miserable time for these guys.
7

Roscoe P Coltrane,

Brum 03/06/2009 16:18:07
How about they save 36 jobs by binning the arrogant, clueless, honour-free t**t that is Andy Hornby?

Despite being the major architect of the HBOS downfall and all the dodginess surrounding the LTSB buyout, he's still being paid £60k PER MONTH by LBG as a 'consultancy fee'.

That would pay three mid-level salaries per month. But yet again, the people who broke everything are punished by getting paid obscene amounts of money, and those poor sods who have had to work harder than ever in horrible circumstances get rewarded by getting binned.

Welcome to social justice in Blair's Britain!

 

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