Lloyds to cut 850 staff

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Lloyds bank is to cut 850 staff, it has announced. These losses are included among the 15,000 planned by the bank in 2011, with this latest announcement taking the total to over 9,000.

Reductions will take place in commercial banking, retail, group operations, group executive functions, finance, insurance, and wealth, asset finance and international divisions. Around 275 roles are also being created, the majority of which are in Belfast and Pitreavie, Scotland.