Lloyds Bank is continuing to change its business model in a move that will see 2000 new jobs created. The move involves shedding 6240 high street jobs and replacing them with 8240 in its online division. What is not clear is how many of these “new jobs” will be in the UK and how many will be in offshore call centres and this is another damaging blow to the already struggling high street which has seen 54 Lloyds branches disappear last year alone.
The bank announced a 7% fall in profits for the 3 months to 30th September 2018, despite a small rise in turnover; something which will undoubtedly hasten the move to expand online going forward.
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