Bank points to increase in online and mobile use
Lloyds Bank International has announced a near third of its Isle of Man workforce are to lose their jobs.
The company confirmed 120 staff in its PhoneBank and Payments Centre have been made redundant.
It follows a shift to online or mobile banking, with a Lloyds spokesman saying the decision 'meets the changing needs of our customers'.
Fifteen new roles are being created at the bank, although it's not yet known where those roles will be based.
Treasury Minister Alfred Cannan said it was "sad news", before adding "it perhaps reflects the challenges that the banking sector has been experiencing globally".
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