Britain's Lloyds Banking Group cuts 940 jobs
LONDON Jan 23 (Reuters) - Lloyds Banking Group said on Wednesday it was axing 940 jobs bringing the total amount cut since its ill-fated takeover of HBOS in 2009 to over 31,000.
Lloyds said the jobs would be lost in its operations, insurance, retail, wealth, international and commercial divisions and were part of the reductions previously announced in its strategic review.
The part-nationalised bank said in June 2011 that it planned to save 1.5 billion pounds by letting 15,000 staff go. The cuts formed part of Chief Executive Antonio Horta-Osorio's plans to turn it around following a state bailout which left it 41 percent owned by the British taxpayer.
- Housing, jobs data weaken, but overall economic picture still upbeat
- Putin critic Khodorkovsky in Germany after pardon
- Target cyber breach hits 40 million payment cards at holiday peak |
- Pizza outlet attacked as India, U.S. fail to cool diplomat row |
- New York Mayor-elect's reputation for lateness parodied on Twitter