The British financial services sector lost nearly 1,400 jobs in one week, after Barclays, Lloyds Banking Group and Royal Bank of Scotland all announced staff reductions. The 360 jobs lost at Lloyds are attributed to its integration of HBOS employees, while Barclays’ cut of 500 are mostly covered by a “voluntary redundancy exercise,” according to Unite, the workers’ union. RBS has been slashing positions as a condition of its government bailout.
