British Bank Lloyds Is About To Cut 15,000 Jobs Including Hundreds In London


Photo: Wikimedia Commons

British bank Lloyds is set to cut 15,000 more jobs, The Independent reports.The bank, which is partially state-owned, is expected to make the announcement tomorrow in an attempt to save £1 billion ($1.6 billion) in costs per year.

Speculation is that layers of management will be stripped away and hundreds of jobs will go in London.

The Telegraph had previously reported that the company is also hoping to cut infrastructure costs, and that senior executives are likely to be stripped of perks such as chauffeur-driven cars.

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