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7 February 2012, 12:16 | Updated: 30 March 2016, 13:50
Lloyds Banking Group is to axe almost 1,000 jobs and close three offices, including its Newcastle site.
Accord Union has called the announcement a "devastating'' blow to workers.
Sites in Romford, Newcastle upon Tyne and Scunthorpe will close, with the loss of almost 1,000 posts.
The union said more than 30,000 jobs had now been lost over the past three years at Lloyds, which is 40.2% owned by the taxpayer.
Accord general secretary Ged Nichols said:
"Today's confirmation that Lloyds Banking Group (LBG) is to shed nearly 1,000 more jobs on top of the 30,000 that have been lost since the Halifax Bank of Scotland Group was taken over just three years ago is devastating news for the employees who will be affected and the communities in which they live.
Newcastle, Romford and Scunthorpe are areas that cannot afford to lose the high-quality jobs that will go as a result of today's announcement.
Whilst Accord has informed LBG that it must do everything possible to avoid compulsory redundancies and work with us to provide support and guidance to those affected, the truth is that even those who volunteer to go will find it difficult to find alternative employment in these difficult economic times.''