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Lloyds to axe 6,000 jobs, create 8,000 new roles - Sky News


(Reuters) - Group Plc will cut around 6,000 jobs, while adding 8,000 new roles as part of a planned 3 billion pound investment, reported on Monday.

The jobs cuts would come from a broad range of areas across the bank, including its group transformation division, corporate banking, retail and community activities, said, citing sources.

The creation of 8,000 new jobs will be announced on Tuesday, meaning a net creation figure of 2,000 jobs, the Sky report said. Staff whose jobs are affected by the plans will be able to apply for the new roles being created, reported.

Lloyds declined to comment.

The reorganisation is part of investment plans revealed in February, which focus on technology and staff as the looks to adapt to the increasing popularity of digital and declining footfall in branches.

(Reporting by and in Bengaluru. Editing by and Jane Merriman)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 06 2018. 00:42 IST