Lloyds Banking Group is to allow all customers to use any of its branches in a move that has fuelled fears of more mass closures and job losses. The bank has already announced plans to close 55 more branches, bringing the total number of branches across brands to 932.
Lloyds Banking Group has announced plans to allow all customers to use any of its branches, a move that has sparked concerns over potential mass closures and job losses. The group, which is the UK's largest retail banking group and owns Halifax, Lloyds and Bank of Scotland, revealed in a staff memo that it needs to "evolve how supports customers" in physical branches as "more people are choosing mobile over any other way to bank.
This move could lead to cost savings but also pave the way for more branch closures. Lloyds Banking Group has already announced plans to close 55 more branches, reducing the total number of branches across all brands to 932. Mark Brown, the general secretary of the BTU, an independent union at Lloyds, criticised the decision stating that it is "to make it easier for Lloyds to close more branches and save more money" rather than enhancing customer experience. He also warned, "We estimate that Lloyds will be able to close 233 branches at the virtual drop of a hat, with thousands of staff losing their jobs.
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