Lloyds to axe another 400 jobs

Banking giant Lloyds is to axe another 400 jobs, taking the total number of posts lost to 22,000 since it was part-nationalised, it was revealed today.

The Unite union, which represents staff at Lloyds, said it was "appalled" at the latest job losses, which had "devastated" staff.

National officer Cath Speight said: "Unite is appalled that Lloyds Banking Group has now cut close to the capacity of the stadium of a Premier League football club. Craven Cottage could hold the 22,000 people from this state-supported bank who been left devastated by the weekly flow of job loss announcements."

Unite called on new chief executive Antonio Horta-Osorio to make a firm commitment that his first priority will be job security when he joins the company in early 2011.

"Today over 400 people face the reality of a future without employment as Lloyds Banking Group continues to throw increasing numbers of staff onto the scrap heap of the jobless."

Unite said the latest job cuts will hit the bank's wholesale and insurance divisions. The bank was part-nationalised in September 2008.

David Oldfield, Chief Operating Officer, Wholesale, at Lloyds Banking Group, said: "Today's announcement to cease writing new business in the Group's Black Horse Personal Finance operation follows a strategic review of the business.

"There will be no effect on Black Horse Motor Finance or existing Black Horse Personal and Retail Finance customers. We will work closely with the impacted employees to help them through these changes."