logo
Plus   Neg
Share
Email

Lloyds Banking To Close 49 Branches And Cut About 100 Jobs

The Unite workers union said that Lloyds Banking Group (LLOY.L,LYG) has informed staff that they will be closing another 49 branches of the Halifax, Bank of Scotland and Lloyds Bank, resulting in 99 job losses.

Unite has warned the bank that the ongoing bank branch closure program is undermining their vision for growth and leaves more local communities without access to valued local banking.

Rob MacGregor, Unite national officer said, "Lloyds Banking Group needs to halt this unnecessary bank branch closure program. Local communities are making it clear that the closure of their local branch excludes customers who cannot use digital means to conduct their financial transactions."

Rob MacGregor, said, "Having returned to profitability LBG needs to stop ignoring its corporate social responsibilities. Just over six months ago the bank announced the closure of 100 branches and today another 49 branches. The news today will not be welcomed by staff or the customers left with no access to local banking."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Shares of Deutsche Telekom AG were losing around 2 percent in German trading after the telecom giant reported Thursday a net loss in its fourth quarter, compared to prior year's profit, despite increased revenues. Looking ahead, the company said its 2019 forecast shows undiminished growth momentum. Hormel Foods Corp. on Thursday reported a 20 percent decline in profit for the first quarter from last year, when results were aided by a benefit related to the U.S. tax reform. However, earnings per share for the quarter matched analysts' expectations, while revenues missed their estimates. Looking ahead, the branded food company reiterated its financial outlook for fiscal 2019. Southwest Airlines Co. said it will investigate whether a dispute with its mechanics union was the cause of an "unprecedented number" of out-of-service aircraft that resulted in flight cancellations and flight delays. Southwest Airlines COO Mike Van de Ven said in a statement that the airline has been negotiating with Aircraft Mechanics Fraternal Association or AMFA for more than six years.
Follow RTT