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Lloyds said to hire 8,000, but cut 6,000 in technology revamp
[LONDON] Lloyds Banking Group Plc will unveil a plan to add a net 2,000 jobs as part of a technology investment program, according to a person familiar with the British lender's plans.
Some 6,000 roles will be cut, but 8,000 other new posts will be added as part of a program previously announced in February, said the person, who requested anonymity. Sky News reported the plan earlier Monday, saying it would be announced Tuesday and that the job cuts would come from a broad range of areas across the bank.
Last month, Britain's biggest mortgage lender posted third-quarter earnings that beat analysts' estimates. Chief executive officer Antonio Horta-Osorio is clamping down on costs, shutting branches and eliminating jobs as customers move online.