Lloyds to Axe More Jobs

24th March 2011

UKs unions are greatly angered.

The latest move by António Horta-Osório, the new chief executive Lloyds Banking Group is scheduled to offshore more than 5,000 jobs formerly belonging to British workers.

Additionally, LBG announced further that it also cut 570 more jobs, including approximately 90 more in Scotland. Career cuts will mainly be in the partly owned taxpayer bank’s retail, wholesale and human resource divisions.

Since the merger, the newest wave of job cuts totals a staggering 26,775.

Lloyds acquired Halifax Bank of Scotland in 2009. It will devolve and outsource 600 more recruits, as well as 135 Scotland companies inside the UK.

Lloyds employs 5000 India workers merely because they expect only a fraction of UK job wages. The Lloyds Trade Union (LTU) adamantly calls for the 5,000 jobs previously transferred abroad to be returned.

A spokesperson said, “This is not the time to pull such a stunt, especially with so many people losing their careers and unemployment at 2.55 million.”

“What a time for the group to transfer jobs to the Philippines and India. It is almost as if they are looking to make UK workers redundant.”

All this comes on the heels as Lloyds considers a hefty bonus for former chief executive Eric Daniels, after patting him on the back last year with £1.45 million.

LTU has thus far collected 500,000 customer signatures who oppose outsourced recruits managing their accounts.

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