Britain’s Lloyds Banking Group cuts 860 jobs

LONDON (Reuters) – Britain’s biggest domestic bank Lloyds is making 860 redundancies to cut costs as COVID-19 hammers lenders’ finances.

Lloyds had temporarily stopped job losses and restructuring early in the pandemic, with the commitment running until October.

Union Unite criticised the cuts, which come alongside the creation of 220 new roles.

A Lloyds spokesman confirmed the job loss numbers and said staff affected would leave after October.

(Reporting by Iain Withers, Editing by Lawrence White)