Lloyds Banking to Cut 195 Jobs in Focus on Digital Investment
June 20 2018 - 8:55AM
Dow Jones News
By Adam Clark
Lloyds Banking Group PLC (LLOY.LN) said on Wednesday that it
intends to eliminate a net 195 roles as part of its cost-savings
plan.
The lender said the reductions are mainly in its back-office
teams, and it will also be creating 255 new roles in its 3.0
billion pounds ($3.95 billion) digital investment program.
"The group's policy is always to use natural turnover and to
redeploy people wherever possible to retain their expertise and
knowledge within the group," a spokesperson for Lloyds said in a
statement.
"Today's announcement involves making difficult decisions, and
we are committed to working through these changes in a careful and
sensitive way," the spokesperson said.
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
June 20, 2018 08:40 ET (12:40 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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