Bleak day as more job cuts bite

May 22 2009 by Iain Laing, The Journal

“That is why it is imperative we continue to transition our UK business from pure research to technology-based solutions and services.”

The firm has dozens of sites across the UK, with major facilities at Farnborough in Hampshire, Malvern in Worcestershire, and Boscombe Down in Wiltshire.

Unite said almost 2,500 jobs had now been slashed in recent months by the Lloyds Group alone as part of a huge cull in the industry.

Rob Devey, head of Direct Channels within Lloyds Banking Group, Retail Division, said: “We are bringing together our support functions to create a more streamlined business to help meet the needs of our retail division.”

Clinton Cards, which owns the 332-store Birthdays chain, said it had taken the “difficult decision” that it could “no longer continue to provide funding to its loss making subsidiary”. Clinton Cards stores, which employ around 6,200 staff in 692 shops, are unaffected.