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

460 jobs
Number of planned job losses
Job loss
Announcement Date
16 October 2009
Employment effect (start)
Foreseen end date
31 March 2010


Lloyds Banking Group has announced that 460 jobs (including 360 full-time roles) are to be cut following the sale of its Halifax estate agency business to LSL Property Services for £1. The majority of employees currently employed in the business will be transferred to the new owner. These branches will be rebranded with one of LSL's existing brands: Your Move, Reeds Rains or Intercounty. Most of the job cuts will be amongst staff running banking counters within estate agents, but the company has said that it will try to avoid compulsory redundancies.


  • 16 October 2009: The Guardian
  • 16 October 2009: BBC Website


Eurofound (2009), Halifax, Internal restructuring in United Kingdom, factsheet number 69715, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69715.