Lloyds Banking Group
Lloyds 'Salami Slices' 500 Roles as it Edges Towards 15,000 Jobs Cuts Target Reuters

UK trade union Unite has slammed Lloyds Banking Group for its "continuous salami slicing job losses", as the lender cut 500 more jobs across the UK - part of a cost reduction plan it announced in 2011.

The bank has now cut 13,555 jobs and plans to axe 15,000 in total.

In May, Unite said it would fight for guarantees of no compulsory redundancies following Lloyds's announcement that it is to close its Warrington telephone banking centre and cut 645 jobs.

Only a few months previously, Britain's business secretary Vince Cable demanded a meeting with Lloyds' bosses, after the 25% state-owned firm said a bulk of other job cuts would come from a unit that deals with SME issues at a time where a raft of mis-selling scandals is plaguing the banking industry.

"Under its new management, Lloyds have made a virtue of breaking free of its past performance and culture," said Cable.

"In particular they have put relationships with small businesses at the core of their new approach. I welcomed this at the time and praised them on this basis.

"So I am very surprised and disappointed to see the news that Lloyds has announced cuts that strike at the heart of these important commitments and put its focus on small businesses at risk."