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Lloyds Bank To Shed Nearly 1000 Jobs

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Lloyds Bank is to axe more than 940 jobs, bringing job loss announcements to 1,300 in the past few days, according to unions.

Unite expressed "fury" at the latest cuts, adding that a quarter of Lloyds' workforce has now been cut since 2009.

lloyds bank job losses

Lloyds' announcement has been met with anger from unions

The Accord union said almost 200 posts were being moved offshore to India.

Unions said it was the third job loss announcement from Lloyds in the past few days.

Unite national officer Dominic Hook said: "Since 2009 Lloyds have slashed a quarter of the workforce. It is a complete disgrace that the bank, which is 41%-owned by the taxpayer, continues to cut jobs in such a cavalier manner.

"In the middle of an economic crisis, a bank part-owned by the public should be keeping jobs in the UK, not exporting them abroad.

"Unite has warned Lloyds Banking Group that if they are looking for a period of stability and growth to return it to profitability, this cannot and will not be achieved by continuous and damaging job loss announcements.

"Unite opposes these cuts and will be doing everything possible to stop compulsory redundancies."

The Lloyds announcement copmes on the same day that official figures revealed a record number of people are in work.

The figures from the Office for National Statistics revealed there had been another fall in unemployment and a further dip in the numbers claiming jobseeker's allowance.

Almost 30 million adults were in a job in the quarter to last November, up by more than half a million on the previous year.

The figure, giving an employment rate of 71%, is the highest since records began in 1971.

Unemployment fell by 37,000 in the latest quarter to just under 2.5 million, the lowest since spring 2011.

It was the 10th consecutive fall and was coupled with another cut in the number of people claiming jobseeker's allowance, which was down by 12,100 last month to 1.56 million, the lowest since June 2011.

Meanwhile, business secretary Vince Cable has welcomed the announcement from fast food chain McDonald's that it is to create at least 2,500 new jobs this year, taking its UK workforce to 93,500.

The move follows 3,500 new jobs that McDonald's created last year, of which 70% were taken by young people under the age of 21.

Cable said: "A highly-skilled workforce is an important part of any growing business. That's why I am pleased to see how McDonald's is providing training and apprenticeships in a range of skills.

"McDonald's is also to be applauded for helping adult employees get qualifications in maths and English. Poor literacy and numeracy skills can hold people back in the workplace, which is why the government has doubled the funding for these core subjects."

mcdonalds jobs

McDonald's has added more than 20,000 people to its workforce during the last five years

Chief executive Jill McDonald said that McDonald's UK helped many people just starting their working life.

"These remain challenging economic conditions but I'm pleased that, together with our franchisees, our continued focus on serving quality, affordable food and giving our customers a great experience is enabling us to keep investing in our business and creating jobs," she said.

"Whilst today's job market is hugely competitive, we offer many people their first experience of work and we're focused on doing what we can to help more young people get into quality jobs and careers.

"To help young people get on in life, it's crucial for major employers like us to keep investing in training and people development, because companies like ours can make a big difference through the jobs we create and the support we provide."