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Lloyds Banking Group to axe 305 jobs and 49 more branches in Britain

Reuters  |  LONDON 

By Lawrence WhiteLONDON (Reuters) - Lloyds Banking Group will cut 305 jobs and close 49 branches in Britain, the latest in a series of reductions to its workforce and network as it promotes its digital services.Lloyds said in February it would invest 3 billion pounds over three years in such digital initiatives, but had not said how many branches or jobs it would axe as part of the cost-cutting strategy.Lloyds said the plan reflected changes in customer behaviour, with more people using digital services than branches, which are costly to maintain . "Today's announcement involves making ...

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First Published: Tue, April 17 2018. 20:58 IST