THERE was mixed news for 12,000 staff in the region’s banking sector yesterday, after Bank of America and Santander announced significant job cuts.
Bank of America, parent of Chester-based credit card firm MBNA Europe Bank, said up to 35,000 jobs will be lost from its workforce. MBNA employs 4,000 people at Chester Business Park.
And the threat of job losses remains for 8,000 HBOS and Lloyds TSB staff, after HBOS shareholders yesterday approved a merger with Lloyds TSB.
Meanwhile, Alliance & Leicester’s 2,000 staff at Bootle are not affected by an announcement by Santander to cut 1,900 jobs, about 8% of its UK workforce.
Bank of America blamed the need to cut a significant number of jobs on its pending merger with Merrill Lynch and the weak economic environment.
It expects to finalise plans early in the New Year, but said that up to 35,000 jobs could go in the next three years.
