Lloyds cut 800 jobs
November 24, 2009
Lloyds Banking Group has just announced that it is to axe around 800 jobs from its Aylesbury workforce. The announcement has come as a result of Equitable Life deciding to end its administrative services contract with the Lloyds Banking Group and use a logistics and IT group based in India instead. The direct result of this move will be the loss of 240 jobs. The indirect result has been the decision by Lloyds to reassess its presence in Aylesbury which will now result in a further 570 job losses as the company decides to relocate its investment, life and pensions operations.
Trade union Accord has said that the moves will have a dramatic affect on not only those working for the Lloyds Banking Group in the area but for the areas workforce as a whole. Accord has pointed out that Lloyds are the areas biggest employers in the private sector. Accord’s general secretary, Ged Nichols said that the union would support every Lloyd’s employee who will be affected by the moves. He also said that they would be on hand to make sure that those staff that Equitable Life are planning to transfer to HCL were treated correctly.
John Van Der Wielen from Lloyds owned Halifax Life has said that the company aims to implement its relocation plans over the next couple of years so that there will be a phased withdrawal from the area. He said that the group aimed to give its colleagues affected by the withdrawal as much support as possible.
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