Lloyds Banking Group sheds more IT roles

Taxpayer-backed Lloyds Banking Group is cutting more than 200 roles across its insurance business, in areas including technology and back-office. The...

Taxpayer-backed Lloyds Banking Group is cutting more than 200 roles across its insurance business, in areas including technology and back-office.

The job cuts, which will affect staff in Edinburgh, Newport, Chester, Leicester, Copley, West Yorkshire and Shannon in Ireland, are a result of the HBOS merger.

The recent round of job cuts takes the total number of redundancies to more than 26,000 over the space of two years.

LBG stated recently that the merger of LLOyds TSB and HBOS, which also prompted the loss of 4,500 IT jobs only a few months ago, is set to generate £1.3bn in cost efficiencies this year.

Employees' union Unite branded the cuts "inexcusable."

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