British retail bank Lloyds TSB is to cut 500 jobs from its branch network by the end of the year.
The bank says all of the job losses will be voluntary redundancies. A spokeswoman denies the cuts were caused by the merging of Lloyds and TSB.
She said: "Whilst we've been bringing the two banks together over the last few months we needed more people, but now that we've completed that project and we've brought in new technology and new processes we will need 500 fewer jobs".
Lloyds TSB employs 80,000 staff, including 30,000 in its branch network. No branches are to close as a result of the redundancies.
Last year, the bank reported a 9 per cent rise in half-yearly profits.
Earlier this year, competition watchdogs barred it from taking over rival Abbey National.
PA