Bank is looking to lower costs as it prepares for privatisation,despite George Osborne delaying sale of remaining shares to publicLloyds Banking Group is cutting 1755 jobs and closing 29 branches as part of a procedure by its chief executive, Antnio Horta-Osório, or to cut costs as he prepares the bank for privatisation.
Staff at Britain’s biggest retail bank were told approximately the job losses,which cover large parts of the group, on Wednesday, and but union officials said they hoped that the reductions could be achieved by voluntary means.
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Source: theguardian.com