Lloyds Bank announces locations of 100 branch closures and 325 job losses

Lloyds Bank has announced the locations of 100 branch closures that will lead to 325 job losses.

The announcement affects 54 LBG branches, 22 Halifax branches and 24 Bank of Scotland branches.

The job losses form part of a wider cost-cutting programme that will see 12,000 jobs go by the time it is complete.

A spokesperson for Lloyds Banking Group said the latest closures formed part of a plan first announced in June 2016, adding that branches would continue to play a “vital role” in meeting its customer needs.

“We will further expand the mobile branch fleet across Bank of Scotland and Lloyds Bank, with the addition of nine new mobile branches,” the spokesperson added.

“This will provide continuity of services in some of those areas affected by branch closures, alongside other ways to access banking locally.”

Unite the union, which represents Lloyds staff, expressed anger over the decision to close the branches.

Rob MacGregor, Unite national officer said: “The continuous stream of branch closures announced by the UK’s retail bank branches appears to show no signs of ending. The loss of a further 100 local banks will be painful for high streets across the country to absorb.

“Lloyds Banking Group’s rationale for branch closures is the claimed customer preference towards the use of technology across banking. However this simply doesn’t ring true when it’s clear that many customers still value the face to face engagement with experienced and knowledgeable bank staff.

“The industry must halt these endless branch closure programs and open their eyes to what these closures are doing to rural communities, their disabled customers and the small business customers who depend on access to a local branch.”

Last month the Royal Bank of Scotland announced it would close over 150 bank branches and cut 470 jobs in response to changing consumer behaviour and a surge in the popularity of online and mobile banking.

Citing similar reasons, HSBC said in January that it plans to close 62 branches this year, resulting in up to 180 job losses.

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