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| British bank Lloyds to cut 2,100 more jobs |
| AFP/ PTI / London Jun 30, 2009, 21:07 IST |
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Britain's state-controlled Lloyds Banking Group said today it would cut 2,100 more jobs over the next three years as the embattled company seeks to streamline its operations.
"LBG is announcing today a number of organisational changes within its group operations and wholesale divisions," it said in a statement.
"These changes follow careful and detailed reviews by the group and will result in the bringing together of a number of functions."
Lloyds, which is 43-per cent owned by the government after a huge bailout, added that it has already cut 700 roles "through the natural attrition process" and the release of contract and agency workers.
"Following these changes, up to approximately 2,100 roles will be affected over the next three years. This number is mitigated by the creation of approximately 350 new roles in the wholesale division."
According to trade union estimates, the bank has now slashed around 7,000 jobs since its creation in January, when Lloyds TSB bought rival lender HBOS in a government-brokered deal.
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