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

5,000 jobs
Number of planned job losses
Job loss
Announcement Date
10 November 2009
Employment effect (start)
Foreseen end date
31 December 2010


Lloyds Banking Group has announced that it is to cut 5,000 jobs by the end of 2010. These cuts bring the number of job losses announced within the group to over 10,000 this year. Most jobs will be lost within the operations unit, which includes IT, collections and payment services. The job losses are intended to reduce overlap following the merger of Lloyds and HBOS.

1000 of the job losses will be in Scotland, and 530 in West Yorkshire.


  • 10 November 2009: BBC Website


Eurofound (2009), Lloyds TSB, Internal restructuring in United Kingdom, factsheet number 69818, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69818.