More Cuts at Lloyds Mean More Confusion and Uncertainty

LONDON - Unite union has sharply criticised Lloyds Banking Group’s (LBG) confused management style today (25th August) as the bank announces over 200 job losses in its general insurance arm, bringing the total job cuts at the bank to 7,500 this year.

Only last week LBG decided to abandon the closure of the Cheltenham and Gloucester branches bringing reprieve for 900 staff.

Unite’s national officer, Rob Macgregor said:

“We have no confidence in this Bank’s confused strategy. Only last week LBG decided to abandon the closure of the Cheltenham and Gloucester branch network bringing a reprieve for 900 staff. This week it’s cutting over 200 jobs.

“This steady stream of announcements and cuts is soul destroying for the workforce at this state owned bank - it must end. So far there have been 7,500 job cuts this year, it’s a tragedy.

Staff are expected to give the customers the best possible service but don’t know if they have a job from week to week. These cuts are not in the interests of the customers, or the taxpayers who own this bank. The government needs to be more hands on and put an end to poor management at the bank.”

The loss of approximately 200 full-time jobs will take place by the end of January 2010, from a number of different locations, including Newport, Gwent and West Yorkshire.

Source: Unite the Union

Contact: Ciaran Naidoo on +44-(0)7768-931-315