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LYG Lloyds Banking Group Plc

2.62
0.04 (1.55%)
Pre Market
Last Updated: 10:10:12
Delayed by 15 minutes
Name Symbol Market Type
Lloyds Banking Group Plc NYSE:LYG NYSE Depository Receipt
  Price Change % Change Price High Price Low Price Open Price Traded Last Trade
  0.04 1.55% 2.62 200 10:10:12

Lloyds Banking Group to Cut More Than 1,200 Jobs

12/10/2016 1:52pm

Dow Jones News


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By Razak Musah Baba

 

LONDON--Lloyds Banking Group PLC (LLOY.LN) said Wednesday that it is shedding more than 1,200 jobs as part of the bank's ongoing strategy to cut costs.

"Lloyds Banking Group is Wednesday announcing 1,230 net role reductions as part of the total role reductions already announced in October 2014 as part of the group's 2015-17 strategy," the company's spokesperson said.

The reductions are within Group Operations, Retail, Customer Products & Marketing, Finance and Risk Divisions. The net total is inclusive of 110 new roles that will be created across these business areas, the company added.

Lloyds Banking Group, which is 9% owned by the British government, is the U.K.'s biggest retail bank.

 

(Max Colchester contributed to this article.)

 

-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet

 

(END) Dow Jones Newswires

October 12, 2016 08:37 ET (12:37 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.

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