Lloyds to axe another 200 jobs

The new cuts, which will largely impact its insurance arm, brings the total number of job cuts at the part-nationalised lender to 26,200 since its acquisition of HBOS. Lloyds controversially acquired HBOS at the height of the financial crisis before being bailed out by the UK government which now owns 41% of the London-based lender. The job losses were condemned by the Union Unite, which called on incoming chief executive António Horta-Osório to halt the cuts.