Lloyds Banking Group PLC To Cut 850 Jobs In Drive To Reduce Costs-Reuters

Thursday, 9 May 2013 08:47am EDT 

Reuters reported that Lloyds Banking Group PLC is cutting another 850 jobs to reduce costs, bringing the total number of jobs axed by the British bank since its 2008 bailout to around 35,000. Lloyds, 39% owned by the British taxpayer, said on May 9, 2013 the reductions were part of the 15,000 job cuts it targeted in June 2011 in a plan to deliver annual savings of 1.5 billion pounds ($2.3 billion) by 2014. It has cut 2,340 roles so far this year. 

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