Friday February 21, 2020

Lloyds to cut 9,000 jobs as profits rise

Lloyds Banking Group is to cut about 9,000 jobs in an attempt to revamp its business despite a 41 per cent rise in third-quarter profit.

28th October, 2014
Lloyds chief executive Antonio Horta-Osorio.

Lloyds Banking Group is to cut about 9,000 jobs in an attempt to revamp its business despite a 41 per cent rise in third-quarter profit.

Pretax profit before one-time items rose to £2.16 billion from £1.5 billion pounds in the same period one year ago, the London-based bank said in a statement today. The jump in profit was ahead of analyst expectations.

Lloyds chief executive Antonio Horta-Osorio used today’s results announcement to detail a three year plan...

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