Lloyds Banking Group have announced more job cuts

LLOYDS Banking Group have announced more jobs cuts this morning, with 125 office staff being readied to be let go.

The company which employs a total of 65,000 people, across its Bank of Scotland, Halifax and Lloyds brands, is however expected to create around 62 new roles, meaning a net loss of 63 employees.

According to Accord, which is one of its staff unions, the groups internal audit team and retail chief operating office are likely to be most effected.

“As always, our immediate concern is for the union members who may be at risk of redundancy as a result of the changes.

“We’ll be contacting all of the Accord members who are impacted by today’s news to offer advice and support.”

This latest announcement from the group regarding more job cuts comes after they announced last month that it was preparing plans to simplify parts of its business.

During the shakeup, it was said the 865 jobs were to be cut, however, 226 new roles were supposed to be created, resulting in a net loss of 639 jobs.

The announcement by the Lloyds Banking Group jumps on the back of other businesses announcing more job cuts this morning, with pub group Marston’s also set to make significant cuts.