Lloyds cuts 650 UK job; Closes Halifax-branded agencies

It will also close its network of Halifax-branded agencies, largely based in solicitors and estate agencies, as they are "no longer integral to its business model", the BBC reports. This will hit more workers who are not employed directly by Lloyds and Unions say 1,850 jobs would be affected in total. Lloyds bought the Halifax business as part of its rescue of HBOS in 2008. The group, which is 41% state-owned, forecast it would make a profit this year, despite making an operating loss of £6.3bn on bad loans in 2009. The bank has also struck a deal allowing Halifax customers to pay ...