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 - Financial service activities, except insurance and pension funding
465 jobs Number of planned job losses
Announcement Date
11 May 2005
Employment effect (start)
Foreseen end date
Description
Lloyds TSB has announced plans to close operations in five locations, resulting in the loss of another 465 UK banking jobs. The proposals, which affect office administration posts will result in the loss of 211 jobs in Swansea, as well as 126 posts in Plymouth, 38 in Cardiff, 35 roles in Stockton and 55 jobs in Taunton. The Lloyds TSB Group Union said the closure of the Plymouth centre was directly linked to the bank's strategy of moving some of its work to India although the bank said that this was ‘absolutely' not the case. The bank said it would try and avoid redundancies, and would be speaking to all staff individually to try and find them work elsewhere.
Sources
11 May 2005: The Guardian
11 May 2005: BBC News
Citation
Eurofound (2005), Lloyds TSB, Closure in United Kingdom, factsheet number 61580, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61580.
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