Bank axe to miss Tees

Jul 2 2009 by Karen McLauchlan, Evening Gazette

TEESSIDE is likely to emerge unscathed from Lloyds Banking Group’s decision to cut 2,100 jobs.

The group, which employs around 300 on Teesside, said the planned redundancies would have “minimal impact” locally.

A spokesperson for the bank said: “If there are any redundancies (on Teesside), it is likely to be a single digit number over three years - and that through natural attrition.”

Job losses will affect the bank’s group operations and wholesaling divisions, with 350 to go in Scotland, 150 in West Yorkshire and 100 in Birmingham.

Two telephony units will close in Chester and Merseyside, affecting 84 roles, with five commercial service centres to close this year.

The embattled bank - which is expected to fall into the red this year after buying loss-making rival HBOS - is also creating 350 new roles in its wholesale division.