Lloyds to cut around 1,600 branch jobs in digital switch

BRITAIN’S biggest domestic bank Lloyds is cutting around 1,600 roles across its branch network, a spokesperson for the lender said on Thursday (Jan 25), as part of an overhaul to provide more services online.

Lloyds also planned to create 830 roles in an expanded ‘relationship growth’ team to understand customers’ financial goals and provide services across branches, video meetings and over the phone, the spokesperson said.

The net result of the changes will be a loss of about 769 roles, the spokesperson said.

The process is separate to a shake-up of mainly back office roles reported on in November, the spokesperson said, which put around 2,500 jobs at risk. REUTERS