Lloyds Banking Group axes 1,190 insurance roles
The move is part of a shake-up which will result in about 5,000 roles being cut across the business
Lloyds Banking Group is slashing 1,190 insurance roles as part of an organisational shake-up which is expected to affect 5,000 by the end of 2010.
In insurance, 950 of the cuts will come from the life, pensions and investments business and 240 from general insurance.
In a statement, Lloyds Banking Group said that approximately 250 of the insurance role reductions are expected to be achieved through the release of contractors and temporary staff and that therefore, there will be a net reduction
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