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Article: Lloyds TSB to shed 3000 backroom jobs

Article from:
Evening News - Scotland
Article date:
February 11, 2000
Author:
Copyright

LLOYDS TSB, Britain's biggest high street bank, today announced plans to cut 3000 jobs this year in a GBP 200 million cost-cutting shake-up.

The news came as the bank - which employs 4000 people in Scotland - said it had achieved a record 20 per cent rise in pre-tax profits to GBP 3.62 billion for 1999, compared to GBP 3.02bn the previous year.

Today the bank admitted it was still a banking "predator" - and was looking for more acquisitions.

There has been heavy speculation that Lloyds TSB is ready to step in and make a bid for the loser in the race for NatWest.

Yesterday Bank of Scotland sources said they feared a possible takeover after admitting defeat to the Royal Bank.

A spokeswoman for ...

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