Fact Service May 2011

Issue 21

Over 1,000 jobs axed at two banks

Two banks that were bailed out with taxpayers’ money by the last Labour government have announced that a further 1,060 jobs are to be axed.

Royal Bank of Scotland is to close a key centre and cutting additional jobs resulting in over 700 job losses at three sites in Telford, Plymouth and Leeds.

Lloyds Banking Group has said that another 360 jobs are to be lost across the country. Some 23,000 staff have lost their jobs since the merger of Lloyds and HBOS in 2009.

The Unite general union is calling on the two banks to offer re-training and redeployment to the threatened workforces.