Lloyds Bank has announced plans to close its office in Liverpool's Speke district, affecting approximately 500 employees.

The closure is part of a broader strategy aimed at reducing costs by operating fewer, but more efficiently equipped offices.

According to a bank spokesperson, the strategy revolves around creating 'hubs and communities in key locations across the UK' to better align with the future needs of the business.

Despite the closure, Lloyds has confirmed that no jobs will be lost as a direct result.

Around 80% of the Speke office workforce already work remotely or will transition to remote work when the office closes.

For the remaining 20%, approximately 100 employees, Lloyds intends to offer relocation to the company's Cawley House office in Chester.

This move is part of a larger restructuring initiative by Lloyds, which previously announced plans to cut around 1,600 jobs across its branch network to streamline operations.

Recently, Lloyds also revealed changes in branch operations, allowing customers of Lloyds, Halifax, and Bank of Scotland to use the branches of any of the three brands interchangeably for in-person banking services.

Union representatives, including Unite national officer Dominic Hook, have criticized the decision, arguing that the closure constitutes a significant mistake that will adversely affect employees and the region.

They emphasize the increased commute for employees who are required to transfer to Chester and call the refusal to establish an alternative Liverpool office unjustified.