Unions attack plan to cut 4,500 IT jobs at Lloyds

StockMarketWire.com - The trade unions have reacted angrily to plans announced today by Lloyds Banking Group to cut 4,500 jobs in its IT operations.

The bank said the cuts,which would happen by 2012, were part of its integration of IT operations following the takeover of HBOS.

It said that 1,600 of the reductions would affect permanent staff and 1,100 people on temporary contracts would go. The remaining positions that will be cut are overseas.

The Accord union condemned the reductions saying they would be "devastating for the hard working and professsional employees who are affected."

Another union, Unite, said that it was a disgrace that Lloyds was cutting more UK jobs when it had been kept in business by the taxpayer.