Union says it is “madness” that Lloyds Group – 39% owned by taxpayers – has 4,000 agency workers but is cutting permanent jobs

Tim Lezard

Unite Holborn front w-buggyUnite has accused Lloyds Banking Group of allowing the growing casualisation of its workforce while paying scant attention to job security.

The bank yesterday announced a further 550 job cuts across the country. These come on top of 1,340 redundancies announced in January.

However, unions say Lloyds is slashing directly-employed jobs while continuing to take on more agency workers to “plug gaps in the business”.

There are currently around 4,000 agency workers at the bank.

Unite national officer Dominic Hook said: “Lloyds cannot continue to cut now then ask questions later.

“It’s madness that the bank has so many agency workers when it’s cutting so many permanent jobs. Lloyds is looking for a period of stability and growth but it won’t be achieved by continuous and damaging job cuts.

“The bank must put an end to mass redundancies and instead foster job security, pay workers fairly and concentrate on customer service.”

Earlier this month, the Lloyds Group – which is 39% owned by the taxpayer – announced it made pre-tax losses of £570m in 2012, partly as a result of being forced to make a £1.5bn provision for mis-selling payment protection insurance.

The bank made losses of £3.5bn the previous year.

Coalition ministers have indicated they intend to begin selling the government’s stake in Lloyds when the share price hits 61p – nearly 20% less than previously thought and up to 2 years earlier than analysts expected.


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Tim Lezard

Campaigning journalist, editor of @Union_NewsUK, NUJ exec member; lover of cricket, football, cycling, theatre and dodgy punk bands

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