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Lloyds to cut 1,500 jobs
Tuesday 9th June 2009, 10:50AM BST.
Lloyds Banking Group is due to announce the closure of all Cheltenham and Gloucester branches, with 1,500 jobs set to be lost.
inthenews.co.uk understands all 160 branches of C&G are to be shut, although its mortgages brand will be kept on.
Lloyds Banking Group was silent on the reports on Tuesday morning, with an official announcement expected later.
Union Unite railed against the leaking of the story to the media before staff were informed themselves.
“This is truly a dark day for the financial services sector in this country,” said the union’s general secretary Derek Simpson, adding that the cuts would “rip the heart out of hundreds of local communities up and down the country.
“News that Lloyds is to close hundreds of Cheltenham and Gloucester bank branches, resulting in hundreds of job cuts is nothing short of disgraceful.”
Since the merger of Lloyds TSB and HBOS in January, over 2,900 jobs have been cut at the group in a series of moves including the merger of Scottish Widows and Clerical Medical sales teams, and the closing of administration sites.
C&G’s roots date back to 1850 as a building society, but it bought by Lloyds TSB in 1997.
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