Lloyds Banking Group is set to axe about 625 jobs and close 21 branches as part of a broader cost cutting drive announced by the bank in 2014.
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The redundancies would impact consumer operations, risk management and finance, according to the Unite union. London, Brighton, Gloucester, Leeds, Halifax and Wolverhampton would be among the affected locations.
The move would include shifting more than 80 IT jobs to India and a freeze on hiring at certain divisions.
In addition, the British banking giant also announced plans to create 195 new jobs, which would take the net loss of jobs to 430.
Lloyds said that it looks to "redeploy people wherever possible. Where it is necessary for employees to leave the company, it will look to achieve this by offering voluntary redundancy."
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By GlobalDataThe latest round of layoffs form part of the group’s plan to slash 9,000 roles by 2017. The plan also includes closure of 200 branches during the three-year period.
