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| Version 2 | Version 3 |
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| HBOS whistleblower in jobs plea | HBOS whistleblower in jobs plea |
| (10 minutes later) | |
| A former HBOS executive has urged the government to ensure that staff in West Yorkshire do not bear the brunt of job cuts after its takeover by Lloyds TSB. | A former HBOS executive has urged the government to ensure that staff in West Yorkshire do not bear the brunt of job cuts after its takeover by Lloyds TSB. |
| Paul Moore, who claims he was sacked for warning that HBOS had taken on too much risk, said he feared the bank's Halifax head office would be targeted. | Paul Moore, who claims he was sacked for warning that HBOS had taken on too much risk, said he feared the bank's Halifax head office would be targeted. |
| "Lloyds need to be incredibly fair to ensure that the Halifax staff get a fair share of the future," he said. | "Lloyds need to be incredibly fair to ensure that the Halifax staff get a fair share of the future," he said. |
| "I think it needs to be properly arbitrated by the government." | "I think it needs to be properly arbitrated by the government." |
| The new Lloyds Banking Group, which was created in January, is seeking more than £1.5bn of cost savings by 2011. | The new Lloyds Banking Group, which was created in January, is seeking more than £1.5bn of cost savings by 2011. |
| Much of that is expected to come from eliminating duplication of branch and back office roles and thousands of jobs are expected to go in the process. | Much of that is expected to come from eliminating duplication of branch and back office roles and thousands of jobs are expected to go in the process. |
| 'Shotgun marriage' | 'Shotgun marriage' |
| Mr Moore, the former head of group regulatory risk at HBOS, told BBC News: "You have to cut your cloth depending on the circumstances so at the moment the market will require job losses, there is no shadow of doubt about that. | Mr Moore, the former head of group regulatory risk at HBOS, told BBC News: "You have to cut your cloth depending on the circumstances so at the moment the market will require job losses, there is no shadow of doubt about that. |
| "Normally when an acquisition takes place they try to make it look like it's fair, but what happens is the acquirer gets all the top jobs." | "Normally when an acquisition takes place they try to make it look like it's fair, but what happens is the acquirer gets all the top jobs." |
| He said he wanted to remind the government that it had the power to oversee any redundancy programme as the taxpayer owned 43% of the new group. | He said he wanted to remind the government that it had the power to oversee any redundancy programme as the taxpayer owned 43% of the new group. |
| Lloyds Banking Group said its new executive committee was beginning "to design the next level of the organisation". | Lloyds Banking Group said its new executive committee was beginning "to design the next level of the organisation". |
| "This will be done in a way which is robust and fair for both Lloyds TSB and HBOS colleagues," it added. | |
| Mr Moore said he also believed that HBOS should eventually be split from Lloyds and turned back into a building society. | Mr Moore said he also believed that HBOS should eventually be split from Lloyds and turned back into a building society. |
| "I understand why the shotgun marriage took place - at the time I think that was a judgement that had to be made, so I am not criticising that," he said. | "I understand why the shotgun marriage took place - at the time I think that was a judgement that had to be made, so I am not criticising that," he said. |
| "I think what should happen is they should demerge Halifax from Lloyds and turn the Halifax back into what it was, which was a wonderful building society community bank. | "I think what should happen is they should demerge Halifax from Lloyds and turn the Halifax back into what it was, which was a wonderful building society community bank. |
| "Why don't we make the Halifax a paradigm of a great community bank?" | "Why don't we make the Halifax a paradigm of a great community bank?" |