Lloyds Banking Group will cut almost 1,000 jobs in its car loans business over the next two years.

The bulk of the job losses will be in the north west. Up to 200 jobs will go in Speke, near Liverpool this year and a further 340 positions may be lost in Chester in 2010. Lloyds is also planning to combine two sales forces, taking the total full and parttime jobs losses up to 985.

Lloyds said it may have to make compulsory redundancies as a last resort.

Daily Telegraph