Lloyds Banking Group PLC (LON:LLOY) has confirmed that it will axe 6,240 jobs while creating 8,240 new roles as part of the bank’s digital revamp.
The creation of 8,000 new roles means there will be a net addition of 2,000 jobs at Lloyds.
READ: Lloyds to axe 380 jobs and add 435 roles as part of digital strategy
The bank said 75% of the new roles would be filled by existing staff and but would recruit new employees for more specialist roles such as data scientists. Lloyds will retrain some the existing employees who apply for the new roles.
The move is part of the bank's planned £3bn investment into technology and staff over the next three years as it seeks to improve its digital services in response to a growing shift towards online banking.
Lloyds has earmarked 60 branches for closure this year after shutting 54 in 2017 due to falling footfall.
The changes to staff announced today will not affect further branches but the bank's site in Gillingham will close.
Unite union national officer Rob MacGregor said the changes would "undoubtedly hit the morale of staff who have had to endure round after round of job cuts, branch closures and constant upheaval".
"Unite will be pressing Lloyds to guarantee no compulsory redundancies and ensure that staff who move into new roles are given the support and skills that enable them to continue delivering the best possible customer service."