22nd Apr 2016 08:31
LONDON (Alliance News) - Lloyds Banking Group PLC is considering making deeper cuts than the 9,000 job losses it has already outlined by the end of 2017, Bloomberg reported.
Two people with knowledge of the matter said Lloyds may remove more jobs than outlined in its strategy update in October 2014 in order to further cut costs.
A spokesman for Lloyds declined to comment on the story to Bloomberg.
Lloyds shares were down 0.1% to 68.64 pence.
http://www.bloomberg.com/news/articles/2016-04-22/lloyds-said-to-mull-deeper-job-cuts-to-combat-low-interest-rates
On Thursday, Sky News had reported that Lloyds was poised to announce 300 job cuts out of the 9,000 to staff later that day.
By Sam Unsted; [email protected]; @SamUAtAlliance
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