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Lloyds to cut a further 292 jobs across several offices as part of its ongoing cost-cutting, says union

Unite said the redundancies will come at a number of the bank’s divisions and departments including sites in Fareham, Birmingham, London, Halifax and Chester

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The latest cuts come as investors brace for the bank’s 2018 full-year results, which are due on 20 February

Lloyds Banking Group PLC (LON:LLOY) is to cut a further 292 jobs across several offices as part of its ongoing cost-cutting programme, according to the Unite trade union.

In a statement on its website, Unite said the redundancies will come at a number of the bank’s divisions and departments, including sites in Fareham, Birmingham, London, Halifax and Chester.

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The latest job losses are part of Lloyds’ ongoing Group Strategic Review 3 and Unite called on the bank to urgently give staff the reassurances that they need that there will be no compulsory redundancies, that redeployment opportunities will be found for staff and the remaining smaller occupancy sites are at no further risk.

Rob MacGregor, Unite national officer, said: “The loss of a further 292 committed and hardworking staff from Lloyds Banking Group is appalling. Unite is seeking urgent clarification about the future of the remaining workforce at the impacted sites.”

He added: “The bank’s major restructuring plans have already led to hundreds of bank branches, offices and departments being closed or merged with thousands of staff losing their jobs.”

The latest cuts come as investors brace for the bank’s 2018 full-year results, which are due on 20 February.

Quick facts: Lloyds Banking Group

Price: 33.76 GBX

LSE:LLOY
Market: LSE
Market Cap: £23.89 billion
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