LONDON: Lloyds bank has decided to slash around 9,000 jobs in next 3 years to replace bank’s staff by digital technology.
The bank has already cut tens of thousands of staffers and is planning to cut more staff as it unveils details of a new three-year plan devised by chief executive Antonio Horta-Osorio.
Lloyds, 25pc owned by the taxpayer, is investing billions on mobile and online banking, and automating services such as account opening, and is planning to shut branches as consumers move to banking via computers and smartphones.
The 9,000 figure – which equates to just over 10pc of the bank’s headcount – is not final and yet to be decided. Lloyds is the UK’s largest retail bank and operates more than 2,000 branches.
