Lloyds – To cut 945 jobs

Lloyds Banking Group Plc, Britain’s largest mortgage provider, plans to eliminate a net 945 jobs across operations, including staff at its branch network, as part of broader cost cuts announced last year.

The cuts are part of a plan to pare about 9,000 jobs by 2017, the London-based bank said on Thursday. The job losses are in divisions such as consumer lending and commercial banking, risk and finance and human resources with the bank seeking to redeploy some people in other roles. Lloyds said it’s creating about 150 new roles.

“Lloyds Banking Group is committed to working through these changes in a careful and sensitive way,” the bank said in the statement. “Compulsory redundancies will always be a last resort.”

Chosen excerpts by Job Market Monitor. Read the whole story at Lloyds Says It Plans to Eliminate 945 Jobs Across Businesses – Bloomberg Business