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Lloyds to cut a further 1,070 jobs despite £1bn third-quarter profits

November 04, 2020 at 12:58PM

Bank urged to put restructuring plans on hold because of second wave of Covid-19 pandemic

Lloyds Banking Group plans to cut a further 1,070 jobs despite reporting better-than-expected profits on the back of a UK mortgage boom less than a week ago.

The bank, which announced the cuts to staff on Wednesday morning, said the job losses were part of restructuring plans meant to simplify the business. Lloyds is also creating about 340 roles, though there is no guarantee that they will be filled by staff affected by the cuts.

Continue reading… via Banking | The Guardian

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