Bank to cull roles as it strives for a 'more efficient operating model' for its litigation team
April 20, 2015 at 06:15 AM
1 minute read
The original version of this story was published on Legalweek
Lloyds Banking Group is to slash 25 lawyers from its litigation team as it attempts to streamline its processes in light of increased regulatory scrutiny.
The bank, which has been the subject of legal action over issues ranging from alleged interest rate manipulation to the misselling of payment protection insurance (PPI), is currently conducting a redundancy consultation for those affected.
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