Lloyds to cut hundreds of UK jobs as it revives restructuring plans

Banking group had put changes on hold because of Covid-19 pandemic

Lloyds Banking Group is to cut 865 jobs across the UK as the high street lender revives restructuring proposals made before the Covid-19 pandemic.

The bank said it had decided to push ahead with plans to simplify parts of its business, adding that affected staff would leave in November at the earliest. It will also create 226 new roles, which means the net reduction amounts to 639 jobs, out of a total workforce of 65,000 people.

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