The Lloyds Banking Group has announced that it will be cutting 4,500 IT positions from across its global operations.
According to the BBC, the financier said the reductions would affect 1,600 permanent staff in the UK and a further 1,150 staff working on temporary contracts. Meanwhile, 1,750 overseas posts will also be lost.
The cuts, which will be completed by 2012, are said to be part of the groups integration with HBOS.
“By making less use of contractors and agency employees, it reduces the impact on permanent staff,” said a statement from the Group.
The Unite union slammed the move as “an absolute disgrace”, citing the fact that the group is 41 per cent owned by the UK Government.