Lloyds is cutting hundreds of jobs and closing its Liverpool office
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Lloyds Banking Group is cutting hundreds of jobs and closing its Liverpool office as the luxury bank enters the final stages of its £4bn growth and digitization plan.
In a series of notices to staff on Wednesday, Britain’s largest retail lender said it would cut jobs and close its office in Speke, forcing the 500 staff who work there to move about 25 miles to Chester.
The bank, which has more than 60,000 employees, is expected to cut hundreds of jobs today, according to two people familiar with the matter. The planned cuts include 163 layoffs in England and Wales as part of their move towards branch sharing for Lloyds and Halifax customers, another person familiar with the discussions said, adding it would affect two regional directors and 40 senior managers.
Lloyds said: “To achieve the ambitious strategy we launched in February 2022 and deliver better service to our customers, we are transforming our business.”
They added that the change would not only mean “creating new roles and upskilling colleagues in some parts of the business but also saying goodbye to talented people who have contributed part in the group’s past successes. In the unlikely event that this happens, we will do everything we can to support them with the recently announced changes.”
Unite national officer Dominic Hook said: “The proposal to close Lloyds Banking Group’s major center in Liverpool Speke is a huge mistake.” “The impact on hundreds of employees and areas will be significant and completely unnecessary.”
Lloyds’ Liverpool office is a major contact center dealing with fraud and customer service issues. The closures come as part of a series of group-wide announcements on Wednesday.
Lloyds in 2022 embarked on a five-year £4 billion investment plan, led by chief executive Charlie Nunn, aimed at growing interest-free revenue and digitizing its operations. to cut costs and improve profits.
As part of that effort, it reviewed 2,500 jobs and in 2023 embarked on a round of job cuts.
