Lloyds is slashing 640 jobs and closing 23 branches across Britain as part of a drive to boost profits. The cutbacks are part of a long-term push to become more competitive under a plan to scrap 9,000 roles. This was announced in 2014 and the move is unrelated to the European Union referendum. Lloyds – which is 9pc owned by taxpayers after a bailout at the height of the financial crisis – has pledged to shutter 200 branches in total. The latest closures will take the number scrapped so far to 175.

Bosses said there would be 115 jobs created during the changes, taking the net loss to 525. They said they hoped to avoid compulsory redundancies by asking for volunteers and not replacing workers on their way out anyway. A spokesman said Lloyds was ‘committed to working through these changes with employees in a careful and sensitive way’.....Source Here