This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/8352231.stm

The article has changed 7 times. There is an RSS feed of changes available.

Version 0 Version 1
Lloyds announces 5,000 job cuts Lloyds announces 5,000 job cuts
(10 minutes later)
Lloyds Banking Group is cutting 5,000 jobs by the end of next year.Lloyds Banking Group is cutting 5,000 jobs by the end of next year.
As some of these cuts refer to temporary staff, the bank said the end result would be a permanent loss of 2,600 jobs in the UK.As some of these cuts refer to temporary staff, the bank said the end result would be a permanent loss of 2,600 jobs in the UK.
A spokesman said this would reduce overlap between divisions following the troubled merger between Lloyds and HBOS last year.A spokesman said this would reduce overlap between divisions following the troubled merger between Lloyds and HBOS last year.
Most of the cuts will come in its operations unit, which includes IT, collections and payment services.Most of the cuts will come in its operations unit, which includes IT, collections and payment services.
"We will continue to work closely with our colleagues affected by today's announcement to help them through these changes over the coming year," said Mark Fisher, a group director at Lloyds."We will continue to work closely with our colleagues affected by today's announcement to help them through these changes over the coming year," said Mark Fisher, a group director at Lloyds.
"We have mitigated the impact on positions through redeployment and the release of contractors and temporary staff.""We have mitigated the impact on positions through redeployment and the release of contractors and temporary staff."
The bank said it is cutting 2,820 roles in operations, with 720 being redeployed. There will be a net reduction of 1,350 jobs in the division.