4) Business News: Lloyds expected to cut 9,000 jobs
Lloyds Banking Group is planning to cut around 9,000 jobs - around a tenth of its entire workforce - over the next three years. The announcement is expected to come next Tuesday as part of chief executive Antonio Horta-Osorio's strategic review of the business. The three-year plan is also expected to include some branch closures. The cuts are believed to be in response to the shift of many customers from physical branches to online banking. More job losses would mark the continuing decline in headcount at the bank since its near-collapse and bailout in 2008 and 2009, at the height of the financial crisis. Since then it has axed 30,000 jobs, and announced a further 15,000 job cuts as part of a three-year plan in 2011.
4) Business News: Lloyds expected to cut 9,000 jobsLloyds Banking Group is planning to cut around 9,000 jobs - around a tenth of its entire workforce - over the next three years. The announcement is expected to come next Tuesday as part of chief executive Antonio Horta-Osorio's strategic review of the business. The three-year plan is also expected to include some branch closures. The cuts are believed to be in response to the shift of many customers from physical branches to online banking. More job losses would mark the continuing decline in headcount at the bank since its near-collapse and bailout in 2008 and 2009, at the height of the financial crisis. Since then it has axed 30,000 jobs, and announced a further 15,000 job cuts as part of a three-year plan in 2011.
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