JOBS in Worcestershire could be put at risk after banking giant Lloyds announced it was to shut 200 branches and cut its staff numbers by 9,000.

Lloyds Banking Group – which is 25 per cent owned by the taxpayer after being bailed out during the financial crisis – announced the cuts today despite pledging three years ago to keep all branches open.

Although the business has said it has not yet been decided which branches will be closed, it has said the majority of closures would be targeted in towns where it currently has more than one branch, meaning jobs could be lost in both Worcester and Malvern.

In Worcester there is a large branch in The Cross as well as a smaller one in New Road while Malvern has medium-sized locations in Barnard’s Green Road and Belle Vue Terrace as well as one in Worcester Road in nearby Malvern Link.

But the company has not ruled out closures in towns with only one branch, meaning jobs in Evesham, Pershore, Droitwich, Kidderminster, Bromyard and Redditch, as well as in Ledbury, could also be at risk.

Lloyds’ businesses finance director George Culmer said the cuts were “regrettable” but felt it was the right decision.

“This is about changing customer needs,” he said. “We will work very, very hard to make sure that we lessen the impact as much as we possibly can on our people.”

He added the company’s commitment to keep branches open only applied to the last three years and could not continue to be maintained.

The 9,000 job losses represent 10 per cent of its total workforce but the company has also pledged to invest £1 billion into digital technology to help customers using online or self-help facilities.

The company’s chief executive Antonio Horta-Osorio said he believed the changes would be best for both customers and shareholders.

“Over the last three years the successful delivery of our strategy has ensured that we have become a safe, highly efficient, UK-focused retail and commercial bank,” he said.

"The next phase of our strategy will use these strong foundations as a basis for meeting the rapidly-changing needs of our customers and sets out how we will grow the business in a way that will deliver increasing and sustainable returns for our shareholders."

But the announcement has come under fire from trade unions, with national officer for Unite Rob McGregor saying: "These are deeply unsettling times for Lloyds staff who, after days of speculation and leaks, face yet another round of job cuts and a future of uncertainty.

"Job cuts of approximately 10 per cent could have unknown consequences on customer service and will put even more pressure on staff who have helped get the bank back on the right track.

"The wallets of top executives at Lloyds should not be getting fat by forcing low-paid workers on to the dole. If there are compulsory redundancies or customer service suffers then executive pay should be cut."