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

3,000 jobs
Number of planned job losses
Job loss
Announcement Date
28 July 2016
Employment effect (start)
Foreseen end date
31 December 2017


Lloyds Banking Group has announced plans to cut a further 3,000 jobs from its workforce, and will close a further 200 branches. The bank which is partly owned by the British taxpayer made the announcement after announcing a rise in pre-tax profits of 101%.  The job cuts are in addition to the 9,000 cuts announced in 2014. The latest cuts are said to be in response to customer preference for online banking. The bank stressed that the decision to cut these jobs was taken before the referendum on EU membership. The closures are expected to be completed by the end of 2017. 


  • 28 July 2016: BBC Website
  • 28 July 2016: The Telegraph


Eurofound (2016), lloyds banking group, Internal restructuring in United Kingdom, factsheet number 88324, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/88324.