Lloyds to cut hundreds of jobs and close Liverpool office

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Lloyds Banking Group is cutting hundreds of jobs and closing its Liverpool office as the high-street bank enters the final stretch of a £4bn growth and digitization plan.

In a series of announcements to staff on Wednesday, the UK’s biggest retail lender said it would cut jobs and close offices in Speke, forcing the 500 employees who work there to commute about 25 miles to Chester.

The bank, which has more than 60,000 employees, is expected to cut hundreds of jobs today, according to two people familiar with the matter. The planned cuts include 163 redundancies in England and Wales as part of its move towards branching For Lloyds and Halifax customers, another person familiar with the discussions said, it would affect two regional directors and 40 senior managers.

Lloyd’s Said: “We are transforming our business, following the ambitious strategy we launched in February 2022 and to better serve our customers.”

It added that the changes will not only mean “creating new roles and upskilling colleagues in some parts of the business, but also saying goodbye to talented people who have been part of the group’s success in the past. Where this is unfortunately the case, we will do our best to support them with the recently announced changes.” I will try”.

“The proposed closure of the large Lloyds Banking Group center in Liverpool Spey is a huge mistake,” said Dominic Hook, United National Officer. “The impact on hundreds of workers and the region will be significant and completely unnecessary.”

Lloyds’ Liverpool office is a large contact center dealing with fraud and customer service. The closure came as part of a series of announcements across the group on Wednesday.

In 2022 Lloyds launched a five-year £4bn investment plan, led by chief executive Charlie Nunn, aimed at increasing non-interest rate revenue and digitizing its operations to cut costs and improve earnings.

As part of that effort, it has already reviewed 2,500 jobs and started a round of job cuts in 2023.