Lloyds cut a further 625 jobs

Sandie Seward · Lloyds cut a further 625 jobs

Lloyds Banking Group is to cut a further 625 jobs – including 300 in Scotland – as it integrates the corporate bank of HBOS, the troubled lender it rescued in October.

Lloyds, which has cut 2,225 jobs so far this year, is to combine the two commercial banks and close HBOS’s Integrated Finance, Joint Ventures and Fund Investments unit to new business.

Sandie Seward

Lloyds Banking Group has announced it is cutting a further 210 full-time jobs from across the UK by the end of 2010.

The cuts are the result of combining the telephone and digital banking services of Lloyds TSB and HBOS.

The bank announced 625 job losses on Tuesday due to merging its corporate and small business lending units.

The job cuts come days after Lloyds chairman Sir Victor Blank said he would step down following heavy criticism of the bank's takeover of HBOS.