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Lloyds plans 1,040 job cuts to back office support staff

November 6, 2020

The roles lost are grouped around the bank’s technology and retail operations. Lloyds says that this fresh round of cuts is offset by the creation of 340 new roles elsewhere.

The bank says the changes reflect its “ongoing plans to continue to meet our customers’ changing needs”.

It adds that it needs to make parts of its business “simpler”.

The 1,040 job cuts come in the wake of 865 job losses announced in September. Those cuts fall on the lender’s insurance and wealth division.

UK trade union Unite says in a statement it “cannot comprehend” why the bank would make the cuts.

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