Loans and Finance

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News and information about loans, money, debt, finance and business issues.

Tuesday, June 09, 2009

Lloyds Axes Cheltenham & Gloucester (C&G)

Lloyds Banking Group is to close all 164 of its Cheltenham & Gloucester (C&G) branches in the UK, with the loss of up to 1,500 jobs.

This follows the disastrous merger earlier this year, set up by Gordon Brown, with HBOS.

There is one glimmer of "good" news, Andy Hornby (the ex CEO of HBOS who destroyed value at HBOS) has found work with Alliance Boots as their CEO (earning around £1M per annum).

I wonder if the soon to be ex employees of C&G will be equally fortunate?

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