Lloyds Banking Group has announced 5,000 job cuts as it integrates its wide-ranging businesses. The majority of the losses – 2,820 – will come from its group operations, including ITwith the remainder split between the insurance and mortgage businesses. Lloyds said the net loss of permanent jobs would be substantially lower – at about 2,600 – as the majority of cuts would come from temporary contracts being terminated and staff being redeployed.

This entry was posted by Gwen Robinson on Wednesday, November 11th, 2009 at 4:47 and is filed under Capital markets. Tagged with Lloyds Banking Group. Edit this entry.