Lloyds Banking Group is seeking to reduce its headcount by 570, The Wall Street Journal reports. The bank is expected to cut jobs from its wholesale, retail, insurance, group operations and human-resource divisions. Lloyds may also outsource some cheque and credit processing services to its existing third-party provider, iPSL, which may involve about 450 staff being transferred by the end of 2011. The move is part of the bank’s ongoing integration program with HBOS.
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