Friday, July 17, 2009

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Lloyds cuts 1,200 more jobs, over 8,000 this year

* Jobs to go at group operations and insurance units
* Bank's post-merger workforce was 140,000 staff

Part-nationalised Lloyds Banking Group said it is cutting 1,200 jobs in its group operations and insurance business, taking its layoffs to over 8,000 since it bought rival HBOS in January.

Lloyds, 43-percent owned by the UK government, on Thursday announced a net reduction in staff of around 650 permanent roles by the end of March 2010.

The bank will create 180 new permanent roles in group operations, and also cut 370 contract and agency staff.

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