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Job losses at Lloyds Bank to send ‘shock waves’ through communities

LLOYDS Bank’s decision to cut hundreds of jobs will send “shock waves” through communities reliant on local branches, finance staff warned today.

Trade union Unite criticised the decision of Lloyds Banking Group (LBG) to get rid of 780 full-time consultancy, customer-service and managerial roles across the country.

The redundancies, expected to fall between June and October this year, represents 6.25 per cent of the bank’s overall British workforce of 70,000.

Unite LBG committee chairman Scott Doyle said that the decision was “yet more evidence” of the company’s culture of “profit over people.”

He added: “The Bank of Scotland, Lloyds and Halifax branches hit by the extensive staff cuts today will have sent shock waves through the communities which are at present served by highly experienced bank staff.

“Unite accepts that banking models constantly change and update but this doesn’t need to equate to walking away from community banking and the public who have been loyal to the bank.”

Mr Doyle said that Unite would be pressing Lloyds to reconsider the redundancies, so that “the bank remains rooted in the communities on which they depend for their long-term sustainability.

“There is no doubt that customers need experienced and highly committed banking staff in their communities, and not just at the end of the phone or via an app.”

Lloyds said the job losses came as a result of the widespread switch among customers to online banking.

A spokesman for the bank said: “As customers are using our branches less often, we are reducing the number of roles across our branch network.

“This means we can shape our service according to customer behaviour and local demand.

“Change does mean difficult decisions and we are focused on supporting our colleagues at this time.”

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