Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Lloyds banking group has announced that it is to cut 645 jobs. The jobs are being lost from a range of the bank's operations with a large part of the cuts relating to the closure of a call centre in Warrington. 180 jobs will be lost with the closure of the Warrington call centre and an additional 120 jobs will be transferred to nearby Speke. 65 jobs will be created as part of this process.
This latest round of job losses brings the total number of redundancies to 13,055 since March 2011, when António Horta-Osório took over as chief executive. These job losses were previously reported.
The company has said that these latest job cuts are in part a response to the falling call volumes with more people prefering to bank online. Unions have criticised the move saying that it risks further damaging staff morale and compromises service quality.
Eurofound (2014), Lloyds, Internal restructuring in United Kingdom, factsheet number 77098, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/77098.
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