Calls for government to protect finance sector jobs

Calls for government to protect finance sector jobs

4.11.2008

Lloyds TSB is unlikely to be recruiting for jobs when its takeover of HBOS takes place, it has emerged.

In fact, there are growing concerns that there could be staff redundancies as the firm announced it wants to cut costs by £1.5 billion after the merger takes place, Personnel Today reports.

As a result of this, super-union Unite has called for business secretary Peter Mandelson to ensure the job security of employees within the finance sector, as there have been claims that more that 40,000 could be at risk.

Derek Simpson, joint general secretary of Unite, said: "Where the government has the power to protect jobs it must do so."

He also added that "none of the staff at these two banks should be forced out".

According to the Times last month, one financial firm that is looking recruit is Deloitte, which is aiming to hire more female graduates.

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