Lloyds cuts 500 UK jobs, union accuses it of "salami slicing"

LONDON, July 9 Wed Jul 9, 2014 10:31am EDT

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LONDON, July 9 (Reuters) - Lloyds Banking Group is cutting 500 jobs in Britain, mostly in its finance and retail operations, to take cuts in the last three years to more than 13,000.

The bank said on Wednesday the job cuts are part of 15,000 announced three years ago.

Unite, one of the main trade unions for Lloyds' staff, accused the bank of "continuous salami slicing job losses" that is adding to staff fears about losing their jobs.

Lloyds, which is 25 percent owned by the UK government, said about 175 of the cuts would come from temporary agency staff or by not filling vacant positions. About 24 staff would go from risk functions.

It said the latest cuts took the number of redundancies since its 2011 strategic plan was announced to 13,555. (Reporting by Steve Slater, editing by David Evans)

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