Lloyds Banking Group is cutting 1,300 jobs - 300 are being moved abroad - and Royal Bank of Scotland is axing 464 posts, unions were told. Unite and Accord said it was another "black day" for the finance industry and questioned why the Government was not intervening. David Fleming, Unite national officer, said: "How can there be any justification for the Government not intervening as these much needed jobs are lost from our struggling economy? "To learn that 300 jobs are being transferred to a low wage economy adds insult to injury. Once more these banks are attacking some of their lowest paid staff to achieve cost savings." Lloyds said the job losses were part of its previously-announced strategic review and would affect its group operations, executive functions, wholesale and insurance divisions.
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