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
1,230 jobs Number of planned job losses
925 jobs Number of planned job creations
Announcement Date
17 April 2018
Employment effect (start)
Foreseen end date
Description
Lloyds banking group has announced further plans to restructure which will result in the closure of 49 branches in the UK. The changes will mean that 1,230 jobs are at risk, though the restructure also includes plans to create 925 jobs. The net employment change is therefore 305 jobs and the group has said that redeployment will be considered, and compulsory redundancies will be the last resort. There is no information available on when the changes are expected to take effect.
The news follows plans earlier in 2018 to reorganise back office functions.
Sources
17 April 2018: BBC Website
17 April 2018: The Independent
Citation
Eurofound (2018), lloyds banking group, Internal restructuring in United Kingdom, factsheet number 94155, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/94155.
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