6th Oct 2014 05:47
LONDON (Alliance News) - Lloyds Banking Group PLC is set to cut thousands of jobs and close more branches as it shifts towards a "digitisation" strategy and automates its business, The Times reported Monday.
Jobs are expected to be cut in areas such as mortgage processing and new account opening, as work currently completed manually is moved to computer systems in order to cut costs and improve customer service, the newspaper said, citing City sources.
The strategy is set to be unveiled by the bank as part of a three-year plan included in its third-quarter results announcement on October 28, The Times said.
http://www.thetimes.co.uk/tto/business/industries/banking/article4227797.ece
By Sam Unsted; [email protected]; @SamUAtAlliance
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