Lloyds TSB announces 566 job cuts

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will go in London and Tonbridge in Kent and will also see three offices close in Glasgow, Chorley in Lancashire and Newton Aycliffe in County Durham.

The bank has a plan to cut its back office costs by £121m a year by 2010.

Ninety jobs from a Lloyds TSB site in Andover in Hampshire, are being transferred to India, but the bank is promising to retrain and redeploy the staff affected.

The bank will start the job reduction process this month, and hopes to have completed the changes by March 2007.

Last month Lloyds TSB announced a 4% rise in pre-tax profits to £3.47bn, but said bad debts had hit its High Street operations.

 

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British Airways is cutting 400 jobs as part of changes to its direct sales operation, the company has said.

One of the world's biggest airlines, BA said pre-tax profit increased by 8% to £164m ($291m) during the three months ending 31 December from a year earlier.

Well more job cuts it greed, and the government policies towards no uk firms allowing them better tax breaks.