{"id":89032,"date":"2023-11-26T16:30:07","date_gmt":"2023-11-26T21:30:07","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/britains-lloyds-shake-up-puts-around-2500-jobs-at-risk-source\/"},"modified":"2023-11-26T16:30:08","modified_gmt":"2023-11-26T21:30:08","slug":"britains-lloyds-shake-up-puts-around-2500-jobs-at-risk-source","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=89032","title":{"rendered":"Britain’s Lloyds shake-up puts around 2,500 jobs at risk – source"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: Lloyds Bank logo and rising stock graph are seen in this illustration taken March 12, 2023. REUTERS\/Dado Ruvic\/Illustration\/File Photo<\/span>
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LONDON (Reuters) -Britain’s biggest high street bank Lloyds (LON:) is putting around 2,500 jobs at risk as part of a shake-up, a source familiar with the matter told Reuters, amid a renewed push by lenders to slash costs.<\/p>\n

Lloyds is poised to begin a consultation with staff in a number of roles, including analysts and product managers, the source said, adding many would go through a selection process and it was unclear how many would ultimately be cut.<\/p>\n

Staff are expected to be informed of the process as early as next week, the source said, adding it would also involve the creation of 120 roles.<\/p>\n

The Guardian first reported on the process.<\/p>\n

“We are evolving and transforming our business to ensure we can do more for our customers and deliver the products and services they need,” a Lloyds spokesperson said, adding the bank was reviewing how teams worked without elaborating on potential cuts.<\/p>\n

The news comes after Reuters reported on Thursday that Lloyds’ rival Barclays is working on plans to save up to 1 billion pounds ($1.25 billion), which could involve cutting as many as 2,000 jobs.<\/p>\n

Most British banks have reported a run of strong profits as higher rates lifted lending revenue. But investor concerns about tougher competition for savers’ cash and potential loan defaults amid a cost-of-living crisis are weighing on the sector.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: Lloyds Bank logo and rising stock graph are seen in this illustration taken March 12, 2023. REUTERS\/Dado Ruvic\/Illustration\/File Photo LONDON (Reuters) -Britain’s biggest high street bank Lloyds (LON:) is putting around 2,500 jobs at risk as part of a shake-up, a source familiar with the matter told Reuters, amid a renewed […]<\/p>\n","protected":false},"author":1,"featured_media":5426,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-89032","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nBritain's Lloyds shake-up puts around 2,500 jobs at risk - source | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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