Lloyds Banking Group axes 500 jobs

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The Accord union described the job cuts as "devastating" and said every effort should be made to avoid compulsory redundancies.

A former Halifax processing centre near Chatham in Kent will close with the loss of 210 jobs, 30 jobs will be lost in London and a similar number in Birmingham, while the rest will be spread across the country, said the union.

Ged Nichols, general secretary of Accord, said: "Today's announcement is further bad news for employees of Lloyds Banking Group's Retail Banking Division. Accord believes that LBG has a responsibility to work with us to do everything we can jointly to avoid compulsory redundancies.

"We believe that UK taxpayers will expect the bank to work in partnership with Accord and the other unions representing its employees to minimise unnecessary unemployment, particularly given the support that UK taxpayers have provided to the bank."

Mr Nichols said the announcement was particularly bad news for the economy of the Medway towns, adding: "These jobs are well-paid and provide good employment in an area of the country that is already suffering from above-average unemployment rates.

"Accord argued with LBG to try to preserve the operation, but, ultimately they decided to press on with closure."

The Kent site will close by November, said the union.

Unite said it was opposed to the Kent closure, adding that Lloyds had now cut almost 3,000 jobs this year.

National officer Rob MacGregor said: "Unite is extremely disappointed that the Lloyds Banking Group is to cut a further 510 roles. These latest job losses are yet another example of the weekly hammering that the workforce of the bank is having to endure.