Lloyds Banking Group, a British state-controlled bank has slashed a further 2,100 jobs yesterday as it seek to streamline operations and recover from the global financial crisis and the costly takeover of rival HBOS. A spokesman reported “Lloyds Banking Group (LBG) is announcing today a number of organisational changes within its group operations and wholesale divisions. These changes follow careful and detailed reviews by the group and will result in the bringing together of a number of functions. Following these changes, up to approximately 2,100 roles will be affected over the next three years. This number is mitigated by the creation of approximately 350 new roles in the wholesale division.” Lloyds, which is 43% owned by the British government after a huge bailout, has now cut about 7,000 jobs following its creation in January, when Lloyds TSB bought rival lender HBOS in a government-brokered deal.
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