Bailed-out banks cut a further 500 jobs
Britain's bailed-out banks have cut a further 500 jobs in the latest round of bloodletting in the industry.
Lloyds: Axing 300 staff
Lloyds Banking Group is axing 300 positions, bringing to 27,500 the number eliminated since its ill-fated takeover of HBOS at the height of the financial crisis.
And Royal Bank of Scotland (0.3p lower at 41.06p) is slashing about 200 staff at its City-based investment bank in a bid to rein in costs.
The double-whammy comes as the banks continue to cut overheads because of a prolonged slowdown of financial markets and subdued demand for new loans.
Barclays recently cut jobs at its share-trading wing, while RBS is dropping the axe at a 1,000-strong division that advises large companies on takeovers.
Lloyds (down 0.86p to 47.82p), which is 41pc owned by the taxpayer, is to close a customer call centre in Bridgend that currently employs 700 people.
Around 650 staff will be transferred to offices nearby, it said.
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