C&G branches to shut, 1,500 jobs axed - papers

According to The Sun, staff were last night bracing themselves for a huge restructuring. Shares in Lloyds rose by 3.6% to 63.3p in early trading today following reports of the additional job losses. Lloyds has shed nearly 3,000 jobs since mid-April after its disastrous merger earlier this year with HBOS, and just last week announced it was cutting around 510 permanent roles across the retail business in the UK. That followed a cull of 625 jobs at Lloyds in May, leading to the Unite union accusing the company of a embarking on a strategy of "death by a thousand cuts". Full Times story...