Type
Closure
Country
United Kingdom
Region
Location of affected unit(s)
Swansea, Plymouth, Taunton, Cardiff and Stockton.
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding

465 jobs
Number of planned job losses
Job loss
Announcement Date
11 May 2005
Employment effect (start)
Foreseen end date

Description

Lloyds TSB has announced plans to close operations in five locations, resulting in the loss of another 465 UK banking jobs. The proposals, which affect office administration posts will result in the loss of 211 jobs in Swansea, as well as 126 posts in Plymouth, 38 in Cardiff, 35 roles in Stockton and 55 jobs in Taunton. The Lloyds TSB Group Union said the closure of the Plymouth centre was directly linked to the bank's strategy of moving some of its work to India although the bank said that this was ¬Ďabsolutely¬í not the case. The bank said it would try and avoid redundancies, and would be speaking to all staff individually to try and find them work elsewhere.


Sources

  • 11 May 2005: The Guardian
  • 11 May 2005: BBC News

Citation

Eurofound (2005), Lloyds TSB, Closure in United Kingdom, factsheet number 61580, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61580.