State-owned lender Lloyds Bank cut 1,340 jobs on Tuesday, as part of a restructuring plan that will see as many as 12,000 staff leave the bank in total.
The jobs will go from the operations, retail, customer products and marketing, finance and risk divisions, according to a report by BBC News.
The bank, which is 9% state-owned, announced a plan in October 2014 to cut 9,000 jobs to reduce costs and boost profit while economic growth and interest rates stagnate.
Another 3,000 cuts were announced in July, along with the closure of 220 branches, in the wake of Britains vote to leave the European Union.
Antonio Horta-Osorio, Lloyds CEO, warned that a deceleration of UK economic growth seems likely in the banks second…
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