....and cull hundreds of jobs

• Lloyds Banking Group to close 49 branches 'as customers switch to online and phone banking'
• Yorkshire Building Society Group to shut 13 branches
• Wider YBS restructuring could cost 200 jobs
• Union condemn Lloyds decision to 'ignore its corporate social responsibilities'

Lloyds Banking Group will close a further 49 bank branches across the UK and Yorkshire Building Society will close 13 more, it was announced today. The Lloyds closures fall across the Lloyds Bank, Halifax and Bank of Scotland divisions, and will cost around 100 jobs. The YBS closures are part of a wider cost-cutting campaign - including the phased closure of its Cheltenham office - that could cost 250 jobs. Both businesses claimed the closures were prompted by changing customer behaviour and the declining number of transactions being made in branches.


'Customers are increasingly choosing to use digital and mobile channels for their everyday banking needs,' a Lloyds spokesperson said. 'As a consequence, the number of customers visiting some of our branches has declined in recent years. 'In response to this, we have confirmed the locations of some branches which will close next year across Lloyds Bank, Halifax and Bank of Scotland.'

SOURCE: