UK bank Lloyds has continued its programme of making employees redundant as it moves towards modernising the company.
This latest news will see 865 people lose their jobs, although the bank said 226 new roles would be created.
Lloyds has said that the new jobs would be part of the 780 cuts announced in February, but that were put on hold due to Covid-19.
The new cuts will reportedly begin in November.
Unite union national officer Rob MacGregor criticised the move, expressing his concern for the workers who now have to fend for themselves on a chaotic jobs market.
“The employer should not focus solely on cutting jobs and costs but instead the bank should invest in a workforce that has only shown loyalty, dedication and hard work through the good times, and the bad,” said MacGregor.
Lloyds is not the only bank to announce that it would cut jobs in order to bring the bring the bank into the 21st century.
NatWest, Commerzbank, Deutsche Bankand HSBC have all made similar announcements in the last year.
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