United Kingdom
Location of affected unit(s)
Bristol; Edinburgh
Financial Services
Financial And Insurance Activities
Insurance, Reinsurance And Pension Funding, Except Compulsory Social Security
65 - Insurance, reinsurance and pension funding, except compulsory social security

300 - 305 jobs
Number of planned job losses
Job loss
Announcement Date
29 April 2009
Employment effect (start)
1 July 2009
Foreseen end date
31 July 2009


The Clerical Medical brand name is to be axed by Lloyds Banking Group, creating over 300 job losses in Bristol and Edinburgh by the end of July. The group has decided to keep only the Scottish Widows brand for its pensions and investment services following the takeover of HBOS. Lloyds has taken the measure in order to streamline its business, having been left with a number of competing businesses as a result of the takeover, and has established that the Scottish Widows' name is the better known and trusted of the two. It was announced that many of the cuts will be achieved by less use of contractors and voluntary redundancies, but that compulsory redundancies may be inevitable.


  • 29 April 2009: The Guardian
  • 29 April 2009: BBC Website


Eurofound (2009), Clerical Medical, Merger/Acquisition in United Kingdom, factsheet number 68859, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68859.