Lloyds Said to Announce Plans Thursday for 1,000 Job Cuts
- Reduction is said to be part of wider plan announced in 2014
- Bank said to offer some staff other jobs within company
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Lloyds Banking Group Plc on Thursday will disclose plans to eliminate 1,000 jobs across operations, including staff at its branch network, as part of broader cost cuts announced last year, a person with knowledge of the matter said.
The cuts are part of a plan to pare about 9,000 jobs, close branches and save 1 billion pounds ($1.5 billion) by 2017, the person said, asking not to be identified because the matter is private. Some of the employees will be offered new jobs within the company, the person said.