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Tuesday, 10 November 2009

Lloyds Banking Group slash another 5,000 jobs

Just what you need to hear weeks before Christmas, "sorry you are being made redundant", but Lloyds Banking Group who have already laid off around 6,000 people this year are now laying off a further 5,000 and around 20% of those will be here in Scotland.

These banking giants, which we now technically actually run, are charging more for overdrafts and loans, laying tens of thousands of staff off and yet still are not lending to small business around the UK, which in turn would stimulate the economy a little more.

I will go as far as to say that the banks will drive the really low paid towards loan sharks this Christmas plunging people further into the debt cycle.

How many Executives and Senior Managers will be on the list for redundancy? I will assume not.

Last week, Lloyds Banking Group revealed that it was to receive a further £5.7 billion in taxpayer support from the Treasury and sell at least 600 branches.

I suppose we have to expect the sale of branches, given there are Lloyds TSB branches and Halifax Bank of Scotland branches often on the very same High Streets, but I really hope a great deal of effort has been made to relocate all of these staff elsewhere within the corporation.

The governments, both in Westminster and Holyrood also have to do more to help. Giving someone £60.50 for six months and then no help whatsoever is an absolute disgrace.

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