Lloyds cuts jobs to merge HBOS

Lloyds is to axe 570 jobs from across its business as part of its integration process with Halifax Bank of Scotland.

The state-owned lender is also set to outsource up to 600 roles. The cuts, which will mainly come from back-office roles, will take the total number of job cuts at the bank close to 27,000 since the height of the banking crisis. Lloyds, under the direction of new chief executive António Horta-Osório, is in the middle of restructuring the bank after it bought HBOS at the peak of the financial crisis.