Lloyds will axe 780 full-time branch jobs, according to trade union Unite
Lloyds Banking Group is to axe 780 full-time jobs in its branches, according to trade union Unite.
The High Street banking giant, which incorporates Lloyds, Halifax and Bank of Scotland, has been cutting back on jobs and branches in recent years.
The news followed rival bank HSBC revealing yesterday that it will shut another 27 branches.
Lloyds Banking Group saw its annual pre-tax profit drop by 26 per cent to £4.4billion it revealed last week
Last week, Lloyds Banking group announced that its annual pre-tax profit had dropped by 26 per cent to £4.4billion, as the fallout from the payment protection insurance mis-selling scandal continued.
The bank admitted it would have to set aside a further £2.45billion to cover PPI claim costs, after a last minute rush of claims before the August 2019 deadline.
That brought the total it has forked out for pushing worthless insurance to £21.9billion.
Lloyds Banking group said it received around five million PPI information requests in the run up to the deadline on 29 August last year, and claims it has reached a settlement with the Official Receiver on the matter, but did not go into details about the settlement.