hundreds of lloyds jobs go in Glasgow and Edinburgh

Scots feel the pain as bank axes 2,000 more

By Alan Jones

Published: 01/07/2009

Lloyds was last night accused of “systematically” slashing jobs in a fresh round of cuts that will wipe out hundreds of posts across Scotland.

Union leaders said they were “astonished”, warning staff morale had been dented and workers were in a “permanent state of anxiety”.

Around 355 posts in Scotland are affected, with the vast majority to go in Glasgow and Edinburgh.

About 10 positions in Dundee will also disappear.

However, 40 roles are being created in Edinburgh.

Lloyds said it will axe 2,100 UK posts over the next three years – taking its total announcement of job losses this year to more than 7,000.

It follows the takeover by Lloyds TSB of Halifax Bank of Scotland (HBOS).

The cuts are being made in the group and wholesale divisions, and are a result of “careful and detailed” reviews, according to Lloyds.

The bank said 700 UK jobs will go through “natural attrition” and by releasing contract and agency workers.

Workers were told of the cuts by managers yesterday.

Lloyds said: “Compulsory redundancies will be a last resort. A range of measures have been put in place to support colleagues through this uncertain time.”

Group operations is responsible for the bank’s day-to-day services while the wholesale division deals with business customers.

Mark Fisher, director of group operations, said: “By bringing the businesses together we will be better placed for the future.”

The bank said it had decided not to “offshore” any permanent existing operational roles, keeping these in the UK “whenever possible”. The Scottish Conservatives’ spokesman, David Mundell, said: “This news will be met with grave concern by the Scots employees who might be affected and indeed anyone who wants to see our financial services industry restored to its traditional esteem and growth.

“Instead of the ‘drip, drip’ of job loss announcements that we’ve seen, I would prefer it if Lloyds provided clarity on what its plans are for its Scottish workforce in the months and years ahead.

“There is an atmosphere of uncertainty at the moment and that is distressing.”

Scottish Lib Dem leader Tavish Scott said: “It is very disappointing that yet more jobs are to go as a result of Labour’s banking shambles.

“Scotland is losing vital and valuable headquarters posts. Responsibility for these job losses lies squarely with Alistair Darling and Gordon Brown – they forced through this takeover.

“How many more lives will be ruined before the Labour government takes responsibility for this shambles?” Unite’s national officer Rob MacGregor described the loss of a further 2,100 Lloyds jobs as “horrendous”.

“Morale is now truly low as employees across Lloyds are in a permanent state of anxiety as they see their employer announce hundreds of job losses every week,” he said.

“This Labour government cannot afford to turn the other way as bank workers across the country are losing their jobs.”

Ged Nichols, general secretary of Accord, the union representing former HBOS staff now with Lloyds, said: “The cumulative job loss total, and the almost weekly announcements, are a major worry for everybody employed in the bank.”

Shadow work and pensions secretary Theresa May said: “This is devastating news for employees of Lloyds and sadly more evidence that Gordon Brown’s policies to tackle the recession are failing.”

Lloyds Banking Group, which is 43%-owned by UK taxpayers, was formed by the merger of Lloyds TSB and HBOS late last year.

Reader's Comments

The Bank that likes to say "No" and also here is your P45, its a boot time somebody other than Gordon 'clueless' Brown sorts this mess out, I hate to say it but this will not be the end and I can see the recession and the credit crunch hiting more companies hard especially with the downturn in the oil industry, dark days lie ahead
Pete Shepherd
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there are very many bad days ahead,companies are not making money
bob seivwright
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