IN THE WEEK that British Airways settled a long-running dispute with cabin staff, another London 2012 top tier sponsor, Lloyds, looked set to spark a furious union reaction with its announcement of 15,000 redundancies. The cuts, designed to deliver £2bn in cost savings, come on top of 28,000 jobs already axed as part of the banking group’s crisis takeover of HBOS in 2008 and represent 1 in 8 of the workforce. The group will withdraw from around half of the 30 countries in which it operates announced new CEO Antonio Horta-Osorio but will re-launch its Halifax brand to “unlock the potential in this franchise."
This content is available to SportBusiness Sponsorship subscribers only
Talk to our team of experts about a subscription today
Already have an account? Sign in here