Lloyds Bank Cuts Jobs in Shift to Digital Banking

The British lender plans to create 830 new roles, resulting in a net reduction of 769 jobs.

Lloyds Bank is cutting approximately 1,600 jobs as it continues to shift towards online banking.
The bank also plans to create 830 new roles in its 'relationship growth' team, resulting in a net reduction of 769 jobs.
The new roles will provide services across branches, via video meetings and over the phone.
Only 8% of Lloyds' customers choose to visit high street branches as the sole way to manage their money, while over 21 million customers use online or mobile banking.
The job cuts are part of a larger trend in the banking industry, with banks worldwide slashing jobs as they move towards digital platforms.