6th Nov 2018 10:54
LONDON (Alliance News) - Sky News reported Monday that Lloyds Banking Group PLC will create 8,000 jobs as part of its technology investment programme but also will cut 6,000 jobs, creating a net 2,000 jobs.
The 8,000 new jobs will be focused on areas of digital expansion, in particular within the bank's transformation division, which focuses on developing digital products that "reinvent the boundaries of banking".
The 6,000 jobs being cut by the FTSE 100-listed lender are expected to be across a "broad range" of areas, including its transformation division, corporate banking, and retail and community banking activities.
The reorganisation is part of the bank's three-year strategy announced in February. Lloyds is looking to digitise its infrastructure.
https://news.sky.com/story/lloyds-to-create-2000-jobs-in-drive-to-digitise-banking-giant-11545673
At the time of its strategic update, Lloyds said it aims to enhance its customer experience, further digitise the group and maximise group capabilities.
It will invest more than GBP3 billion in these strategic initiatives through the three-year plan's period "that will drive our transformation into a digitised, simple, low risk, customer focused UK financial services provider".
Shares in Lloyds were down 0.6% Tuesday at 58.20 pence each.
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