Lloyds slashes 4,500 posts from IT team

Steve Dinneen
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LLOYDS Banking Group yesterday announced it will shed 4,500 jobs from its IT team as part of an ongoing integration plan.

The bank said it will lose 1,600 permanent staff across the UK, 1,150 temporary UK workers and 1,750 offshore contractors. The redundancies will be made by 2012.

Mark Fisher, director of group operations at Lloyds said: “We have mitigated the impact on permanent staff with a significant release of temporary and contract staff.

“We will work closely with the colleagues affected by today’s announcement to help them through these changes.

“The changes we are putting in place will give us a world-class IT operation that will benefit our customers and all our other stakeholders.”

Union Unite reacted with fury to the announcement, calling on the government to step in.

National officer, Cath Speight said: “It is an absolute disgrace that Lloyds, which is being kept alive by the taxpayer, is cutting more jobs and moving other jobs out of the UK.

“It is now time for the government step in and demand answers on behalf of taxpayers and staff.

“Since the taxpayer stepped in to keep this bank afloat the management have shown no acknowledgement for the dedication of their staff who have ensured it can continue to service their customers, instead rewarding them with over 20,000 job cuts.”