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Bank Announces 1,850 More Job Losses
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Date: 30th Jun 2010
The Bank has announced a new wave of job losses, with the axe this time falling most heavily on its HBOS-heritage operations. These 1,850 job losses will increase to 18,000 the total number of jobs being made redundant by the Bank since the merger of Lloyds TSB and HBOS early last year.
Most significant will be the complete closure of two HBOS operations in Chester (Direct Channels) and Nottingham (Insurance). The scope for avoiding large scale compulsory redundancies in Nottingham in particular will be severely limited given that there aren’t other large operations nearby for staff to redeploy into.
The areas most affected by these job losses are:
● Retail Direct Channels: 471 Jobs (FTE) Redundant
● Insurance Division: 469 Jobs (FTE) Redundant
● Group Operations: 526 Jobs (FTE) Redundant
● Halifax Community Bank: 158 Jobs (FTE) Redundant
● Other Affected Retail Business Units
See our newsletter for more details of the announcement
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