Internal restructuring
United Kingdom
Location of affected unit(s)
Liverpool, Chester and Nationwide
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64 - Financial service activities, except insurance and pension funding

985 jobs
Number of planned job losses
Job loss
Announcement Date
23 April 2009
Employment effect (start)
Foreseen end date


Banking group Lloyds TSB has announced that it is to cut 985 full and part time positions. The redundancies related to the merger between the Lloyds motor finance division trading under its black horse brand, and HBOS's asset and motor finance division. The company hopes to avoid compulsory redundancies and is instead seeking to use natural turnover and redeployment wherever possible. Unite stated that the job losses end months of speculation amongst staff about the long term security of their jobs. No details are available about the numbers employed in the two divisions or the date by which the cuts will be made.



Eurofound (2009), Lloyds, Internal restructuring in United Kingdom, factsheet number 68776, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68776.