Lloyds Banking Group is planning to lay off around 15,000 employees, Money Marketing reports, citing The Sunday Times. The job cuts are a part of the lender’s £1 billion cost saving plan.

The new plan will form a part of a strategy review that is due to be launched by CEO, Antonio Horta-Osorio, on June 30. The lender has already slashed around 27,000 jobs since 2008.

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