HALIFAX Bank of Scotland (HBOS) is shedding 340 posts from Chester because of changes in the way the newly-merged company handles its motor finance.
Lloyds, which bought HBOS last September, will become the group’s sole motor finance brand, after a review concluded the HBOS operation was no longer viable.
The 340 job losses, which will take effect next year, represent more than 10% of HBOS’s 3,000-strong workforce in Chester, who come from all around the region.
The bank, which is also shedding 200 jobs from its Speke operation, hopes to avoid compulsory redundancies by filling vacancies elsewhere in the company.
A company statement revealed: “This change will result in the loss of 910 full-time jobs which affects 985 full and part time colleagues over a two-year period. The group expects there will be up to 200 jobs impacted at its centre in Speke this year and a further 340 jobs at risk in Chester next year.”
Company spokesman Mark Elliot said HBOS motor finance customers would transfer across to Lloyd’s Black Horse division. He said the decision to wind down the HBOS operation was taken before the merger with Lloyd’s.
Nationally, jobs are also at risk in the sales force and at some regional collections centres.
The statement added: “Lloyds Banking Group is committed to working through these changes with colleagues carefully and sensitively. The unions Unite, Accord and GMB were consulted before this announcement and will continue to be consulted throughout this process.”
The group’s preference is to use natural turnover and to redeploy people wherever possible. A total of 240 asset finance workers have already transferred into ‘suitable alternative’ roles at the retail operation in Speke.
