Unite, Britain's biggest union, accused Lloyds Banking Group of creating a 'constant tide of cuts' as a further 850 job losses were announced by the bank today (9 May) which is still part-owned by the public.
The announcement means the bank has announced almost 2,750 jobs cuts since the start of the year. LBG, HSBC and Barclays combined have announced cuts of around 5,500 jobs since the beginning of 2013.
Today LBG has announced the closure of its office in Southend, Essex putting 690 jobs at risk. The bank is also cutting another 160 jobs across its commercial banking and bancassurance operations.
Unite national officer, Dominic Hook said:
"Lloyds is celebrating a return to profit and there are hints of dividend pay-outs to shareholders but the bank's workers are in constant fear that they will be next for the chop. This is no way to treat staff. It's time to urgently review this continuous tide of cuts and build the bank's strength.
"The constant job cuts across the banking industry is bad for bank staff, does nothing to support customers and it's bad for Britain's economy. Since January almost 5,500 job cuts have been announced by high street banks - that's over 1,000 a month so far this year.
"Britain's banking industry has a duty to the communities it profits from and that means these institutions need to be responsible employers."
Contact: Ciaran Naidoo 07768 931 315
Notes to editors
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.