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| Version 1 | Version 2 |
|---|---|
| Bank group Lloyds axes 985 staff | Bank group Lloyds axes 985 staff |
| (30 minutes later) | |
| Lloyds Banking Group is to cut 985 jobs over the next two years, the company has confirmed. | Lloyds Banking Group is to cut 985 jobs over the next two years, the company has confirmed. |
| The jobs will go at a business offering car finance, which a review found was "no longer financially viable". | The jobs will go at a business offering car finance, which a review found was "no longer financially viable". |
| The banking group, which is 43% owned by the government, said 200 jobs in Speke, Merseyside, could be affected, along with 340 jobs in Chester. | The banking group, which is 43% owned by the government, said 200 jobs in Speke, Merseyside, could be affected, along with 340 jobs in Chester. |
| It hopes as many jobs as possible will go by natural turnover rather than natural wastage. | It hopes as many jobs as possible will go by natural turnover rather than natural wastage. |
| Lloyds Banking Group was formed from the merger Halifax Bank of Scotland and Lloyds TSB late last year. | Lloyds Banking Group was formed from the merger Halifax Bank of Scotland and Lloyds TSB late last year. |
| These are the first major job cuts resulting from that merger, which created a banking giant employing 140,000 people. Unions fear there will be more. | |
| The affected company, Bank of Scotland Motor Finance, will not give out any new loans, Lloyds said, but it will continue to serve existing customers through its Black Horse Motor Finance brand. | The affected company, Bank of Scotland Motor Finance, will not give out any new loans, Lloyds said, but it will continue to serve existing customers through its Black Horse Motor Finance brand. |
| The announcement came as insurer Royal Sun Alliance announced it was closing a site in Bristol with the loss of 500 jobs. Insurance firm to shed 500 jobs | The announcement came as insurer Royal Sun Alliance announced it was closing a site in Bristol with the loss of 500 jobs. Insurance firm to shed 500 jobs |