Insurance Age

Lloyds to axe 650 jobs

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    • Liz McMahon

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Lloyds Banking Group has announced the cuts as part of a "number of changes within its retail, insurance and group operations divisions".

Lloyds Banking Group's general insurance site in Nottingham is to close and the group said it anticipated its exit would lead to the loss of 198 permanent jobs by the end of 2011.

The 650 job cuts are in addition to the 1,190 announced in November.

A spokesman for Lloyds told Insurance Age that the group had too many general insurance sites and as a result had decided to focus its operations at Copley, Newport, Shannon and Bournemouth.

He said: "This decision has been a difficult one and is no

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