Lloyds Bank to axe 1,600 jobs as they will move to online banking

Lloyds Banking Group has said that they are to cut 1,600 jobs across their branch network as they are to move to online banking.

The bank has said that they will create 830 roles in their “relationship growth team” which will allow more staff to talk to customers through video and over the phone.

Lloyds Banking Group have over 21 million customers but just 8% visit the high street branches.

A spokeswoman for Lloyds said, “As more customers choose to manage their day-to-day banking online, it’s important our people are available when it matters most.

“We’re introducing a number of new roles and making changes to our branch teams so our customers can see us how and when they want to.”