23rd Oct 2014 05:26
LONDON (Alliance News) - Lloyds Banking Group PLC will next week disclose plans to cut about 9,000 jobs as part of plans to automate consumer-facing services, Sky News reported on Wednesday.
According to the report, Lloyds will disclose the cuts, which will take place over three years to December 2017, alongside its third-quarter results next Tuesday.
"The numbers are still being finalised ahead of next week's announcement, but sources confirmed that 9,000 was the most likely jobs figure to be outlined by the bank," the report said.
One insider told Sky News that a target for branch closures would also be announced.
According to the report, a spokesman for Lloyds, which is 25%-owned by taxpayers, declined to comment.
Lloyds shares Wednesday closed down 0.1% at 75.84 pence.
http://news.sky.com/story/1358356/lloyds-to-cut-9000-jobs-in-three-year-plan
By Samuel Agini; [email protected]; @samuelagini
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