Unlock Editor’s Digest for free
FT editor Roula Khalaf has chosen her favorite stories in this weekly newsletter.
Lloyds Banking Group will close its Liverpool office as the luxury bank enters the final stages of a £4bn growth and digitalization plan.
Britain’s largest personal finance company told staff on Wednesday it would close its offices, forcing 500 workers to commute around 40 miles to Chester, trade union Unite said in a statement.
“The proposed closure of Lloyds Banking Group’s large center in Liverpool Speke is a huge mistake,” Unite national director Dominic Hook said.
“The impact on hundreds of staff and the community is significant and completely unnecessary.”
Lloyd’s Liverpool office is a large contact center handling fraud and customer service. The closures were made as part of a series of announcements Wednesday that also included job cuts across the group, two people familiar with the plans said.
In 2022, Lloyds will embark on a five-year, £4bn investment plan led by chief executive Charlie Nunn to increase interest rate-neutral revenue and digitize its operations to reduce costs and improve profits. Aimed to improve.
As part of this, the company has already reviewed 2,500 jobs and has begun a series of job cuts starting in 2023.
