LONDON (dpa-AFX) - Lloyds Banking Group plc (LLOY.L, LYG) will cut 305 jobs and close 49 branches in the U.K. It has been reducing the size of its network as customers have switched to online and telephone banking.
The closures, along with reorganisation elsewhere at the bank, will affect 1,230 jobs.
Lloyds said it is creating 925 jobs and existing staff will be redeployed 'wherever possible'. Of the 49 banks earmarked for closure eight belong to the Halifax network and the other 41 are Lloyds branches.
Copyright RTT News/dpa-AFX