This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at https://www.bbc.co.uk/news/business-46105160

The article has changed 3 times. There is an RSS feed of changes available.

Version 1 Version 2
Lloyds Bank 'to cut 6,000 jobs but create 8,000 new ones' Lloyds Banking Group revamp to affect thousands of jobs
(about 14 hours later)
Lloyds Banking Group is expected to confirm it is cutting 6,000 jobs and creating 8,000 new ones as it overhauls its digital services. Lloyds Banking Group has confirmed that it is cutting 6,240 jobs and creating 8,240 new ones as it overhauls its digital services.
Britain's biggest High Street lender has been trying to reorganise as more people bank online, rather than going into branches. Lloyds said that 75% of the new roles would be filled by existing staff, but that some specialist roles such as data scientists would come from outside.
The 6,000 job cuts are expected to be spread across the bank and unions have been briefed. Branches will be unaffected but its site in Gillingham will close.
Lloyds Banking Group has so far declined to confirm the reports. Britain's biggest High Street lender has been reorganising as more people bank online, rather than in branches.
According to Sky News, the cuts are expected to fall in divisions like corporate and retail banking, while the 8,000 new roles will be focused on digital services. Lloyds said some existing jobs would be refreshed and some new ones created, with staff being retrained.
It is understood that bank will not be announcing further branch closures. It added: "This forms part of the £3bn commitment the group has made to invest heavily in its technology and people over the course of its three-year strategic plan."
Unions are expected to discuss the changes with staff on Tuesday morning, with workers in the 6,000 affected posts expected to be able to apply for one of the new roles. Unite union national officer Rob MacGregor said the news would "undoubtedly hit the morale of staff who have had to endure round after round of job cuts, branch closures and constant upheaval".
He added: "Unite will be pressing Lloyds to guarantee no compulsory redundancies and ensure that staff who move into new roles are given the support and skills that enable them to continue delivering the best possible customer service."
Branch closures
Lloyds has been shutting High Street outlets as more customers do their banking through apps or on the internet.Lloyds has been shutting High Street outlets as more customers do their banking through apps or on the internet.
This year it earmarked more than 60 branches for closure, while in 2017 it closed 54 Lloyds branches, 24 from its Bank of Scotland brand and 22 belonging to the Halifax.This year it earmarked more than 60 branches for closure, while in 2017 it closed 54 Lloyds branches, 24 from its Bank of Scotland brand and 22 belonging to the Halifax.
However the lender has also been creating new jobs, and this summer promised to invest £3bn in technology and staff training as part of a three-year plan to transform the business. However, the lender has also been creating new jobs, and this summer promised to invest £3bn in technology and staff training as part of a three-year plan to transform the business.
In the three months to 30 September, total revenue at the bank rose to £4.7bn from £4.6bn a year previously, while profit before tax fell 7% to £1.8bn.In the three months to 30 September, total revenue at the bank rose to £4.7bn from £4.6bn a year previously, while profit before tax fell 7% to £1.8bn.