Lloyds to axe 1,200 workers

MORE than 1,200 jobs are being axed at Lloyds Banking Group under plans to shut another 49 branches in a further blow to Britain’s high streets.

The banking giant said 1,230 jobs will be cut across its network and some central functions as part of the move.

It said it hopes to redeploy affected staff where possible, with compulsory redundancies a “last resort”.

The group is also creating 925 roles elsewhere in the business and insisted the overall job losses would be 305.

Lloyds pledged to expand its mobile branch network.

A spokesman said: “These closures are in response to customers’ changing behaviour.”