Lloyds back to job-cutting plans as UK outlook deteriorates
The job cuts had been envisaged before Covid-19, with the British bank reducing an effective 639 jobs amid the prospect of soaring bad loans
09 September 2020 - 18:54
London — Lloyds Banking Group has become another British bank to restart pre-pandemic job-cutting plans as the economic outlook deteriorates.
The British bank said on Wednesday that it’s cutting more than 800 roles and hiring for more than 200 others, leading to a net reduction of 639 jobs. The departures will mostly be at the bank’s wealth and insurance unit, within which Lloyds has started a joint venture with Schroders Personal Wealth...
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