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Lloyds 'betraying the taxpayer' as it cuts another 1,200 jobs

17 July 2009 / by Rebecca Sargent

Employers union Unite has accused Lloyds Banking Group of betraying the taxpayer after it announced a further 1,200 job cuts yesterday.

The news brings the total job cuts at Lloyds Banking Group to 8,200 since it first formed at the beginning of the year as Lloyds TSB merged with a flailing HBOS to save it from disaster.

As a result, Unite is calling on Lloyds for a freeze in the expansion of the work done abroad for the bank while the bank' UK staff continue to face an uncertain future. Commenting, Rob MacGregor, Unite national officer said:

"The 1,200 job losses announced today show the betrayal of taxpayers' support to maintain Lloyds Banking Group. What is the justification for 8,200 staff to be cut in the last three months while Lloyds continues to perform considerable work out of the country?

"We appear to have Groundhog Day where thousands of staff each week are told that they are to lose their jobs, yet Lloyds Banking Group remains a state-owned bank. Unite views the weekly cull of jobs a disgraceful approach by this taxpayer supported financial institution," he added.

According to Unite, Lloyds Banking Group is currently operating some of its IT, life and pensions and operations departments abroad, despite the UK job cuts.
 
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