After HSBC last week announced the shedding or 25,000 jobs, more bad news arrived yesterday for bank workers in the form of Lloyds saying they are to axe 1,300 jobs.
The jobs at risk are those in the corporate and risk divisions across the UK.
Unions have reacted with anger saying that redeployment of workers, not getting rid of people, should be the order of the day.
The Accord union general secretary Ged Nichols said "Today's announcement, which is the first tranche of the extra 15,000 job losses forecast in LBG's (Lloyds Banking Group) recent Strategic Review, means that the bank has shed 30,000 jobs since February 2009 and the impact on employee morale of these incessant job cuts is what you would expect. Accord has informed LBG that it must do everything possible to avoid compulsory redundancies and work with us to provide support and guidance to those affected."
It also appears that the bank has been using a lot of agency and temporary staff, which the unions also condemn.
The national officer of the Unite union, David Fleming, said "Over 1,000 staff from the Lloyds business functions in risk, insurance, retail, wealth and international, operations and corporate affairs have today been informed that there will be cuts in their area. Unite is demanding that the Lloyds Banking Group puts to an end the widespread practice of employing agency and temporary staff while making thousands of permanent employees redundant. “
LBG said that 1,120 of these job losses were part of the previous announcement and the extra 180 are part of the Lloyds/HBOS integration programme. Nearly 45,000 job roles will have been lost since the merger once the latest cuts have been made.