The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64.1 - Monetary intermediation
242 jobs Number of planned job losses
Announcement Date
24 June 2009
Employment effect (start)
Foreseen end date
Description
Lloyds Banking Group has announced plans to cut a furter 242 jobs across the UK. The cuts are the latest in a series of job losses following the merger of Lloyds with HBOS late in 2008. The new cuts will affect staff in offshore finance and they will occur in Jersey, Guernsey, Isle of Man and London. As of 28 June 2009, no date has been given for the implementation of the redundancies.
The job cuts are the latest of Lloyds' cutbacks (see also factsheets 1, 2, 3, and 4).
Sources
24 June 2009: BBC News
Citation
Eurofound (2009), Lloyds, Internal restructuring in United Kingdom, factsheet number 69158, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69158.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
