March 17, 2011 / 12:28 PM / 8 years ago

Lloyds to cut further 570 roles

Pedestrians walk past a branch of Lloyds bank in London August 4, 2010. REUTERS/Luke MacGregor

LONDON (Reuters) - Part-nationalised bank Lloyds is to cut a further 570 roles within the group as part of an ongoing integration programme following its 2008 takeover of rival HBOS, the company said on Thursday.

“Lloyds Banking Group is today announcing 570 role reductions within its wholesale, retail, insurance, group operations and human resources divisions as part of the ongoing integration programme,” it said in a statement.

Lloyds said it was in talks with staff union groups over the matter and would seek to avoid compulsory redundancies.

Lloyds, which was bailed out and part-nationalised during the credit crisis, has cut more than 26,000 jobs since the start of the financial crisis.

Reporting by Sudip Kar-Gupta; editing by Rhys Jones

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