Unite has expressed fury over Lloyds Banking Group's decision to slash another 940 jobs today across the company (23 January), the third announcement from the company in just days, bringing the total to 1,300 job cuts.
Lloyds Banking Group has cut over 31,000 jobs since its creation in 2009. On Monday (21 January), the bank announced it was cutting nearly 200 jobs in human resources and last week the company cut a further 175 jobs in the Halifax branch network.
Unite is outraged that the bank which is 41 per cent owned by the public is offshoring 190 IT jobs as part of today's announcement.
Unite national officer, Dominic Hook said:
"Since 2009 Lloyds has slashed a quarter of its workforce. It is a complete disgrace that the bank, which is 41 per cent owned by the taxpayer, continues to cut jobs in such a cavalier way.
"The bank is even offshoring another 200 IT jobs. In the middle of an economic crisis, a bank part- owned by the public, should be keeping jobs in the UK, not exporting them abroad. Unite is calling for an urgent meeting with UKFI to demand Lloyds stops offshoring and cutting jobs within the group.
"Unite has warned Lloyds Banking Group that if they are looking for a period of stability and growth to return it to profitability, this cannot and will not be achieved by continuous and damaging job cuts. Unite opposes these cuts and will be doing everything possible to stop compulsory redundancies."
Contact: Ciaran Naidoo on 07768 931 315
UKFI (UK Financial Investments Ltd) is a company set up in November 2008 by the government to manage its shareholding in banks. They include Lloyds (of which HM Treasury owns 41%), Royal Bank of Scotland (of which HM Treasury owns 83%), and until 2012 included Northern Rock.
Unite is Britain and Ireland’s largest trade union with 1.5 million members working across all sectors of the economy. The general secretary is Len McCluskey.