THERE was anger when Lloyds Banking Group announced a further round of job cuts in the wake of its takeover of HBOS. It said 1,660 people would be made redundant as it shuts all 164 Cheltenham & Gloucester branches. The network is expected to be closed down by November.
The bank had previously announced cutbacks that will result in 2,600 jobs being lost. Unite, the trade union, accused Lloyds of embarking on “death by a thousand cuts”.
The British aerospace industry is expected to shed up to 10,000 jobs over the coming year, about 10% of the sector’s total workforce, a leading trade body has warned. The Society of British Aerospace Companies said a decline in the number of passengers was reducing demand for new planes.
Axa, the insurance giant, said that it would cut 560 jobs worldwide, including up to 120 in Ipswich. It said that it hoped some staff could be redeployed elsewhere in the company and that losses would occur through natural wastage.
More than 800 workers at LDV were laid off after the van maker was placed into administration following the collapse of a rescue bid. All but 40 of the 850 employees were given notice.