Lloyds to cut ten jobs in the Island?

ABOUT ten jobs will be cut by Lloyds Bank International in its Jersey offices as part of restructuring caused by the increased use of online banking, it has been announced.

Lloyds Bank International on Broad Street. Picture: DAVID FERGUSON. (30159653)
Lloyds Bank International on Broad Street. Picture: DAVID FERGUSON. (30159653)

The decision comes after the bank cut around 80 roles in the Island at the end of last year due to the sale of its funds and portfolio investment business to Brooks MacDonald, where 22 staff were re-employed.

Altogether around 120 roles will be lost in the Crown Dependencies due to the latest development, mainly in the Isle of Man.

The operations, telephone and payments teams will be most affected, with a number of jobs being moved to the UK.

The bank employs just under 200 staff in Jersey. A spokesman said around ten of these positions would be lost.

‘While these changes will lead to net reduction of circa 120 roles in the islands, Lloyds Bank International remains fully committed to the islands,’ he said.

‘As customers increasingly use the online or mobile channels, where they can self-serve at a time and place which is convenient to them, this has reduced the work in its Isle of Man phone bank and payments centre.

‘As a result, Lloyds Bank International announced today a number of changes to its operations, telephone and payments teams, which will see Lloyds Banking Group’s central teams based in mainland UK undertake some of the islands’ transactional processing and servicing activity. There is no immediate customer impact at this time.’

The trend towards online banking has also affected NatWest International in Jersey recently.

The bank closed two branches at Longueville and Les Quennevais on 7 January, in response to the trend, confirming that some staff had left through voluntary redundancy while others had been relocated within the business.

In 2015, NatWest International also closed its branch in St Aubin, which has since been converted into an Indian restaurant.

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