Lloyds will axe 1,600 roles across four divisions as part of what it said were previously-announced plans, while RBS is to lose 300 jobs as part of a “rebuilding” exercise.
The Lloyds divisions impacted are: wholesale, insurance, group executive functions and group operations.
It said the losses, which will likely be concluded this year, are part of a simplification programme announced in June which will eventually see 15,000 roles axed.
Meanwhile RBS, which is 83%-owned by the UK taxpayer, is to cut a net total of 300 jobs. It said a total of 464 roles are impacted by its plans, but that it is creating some 150 new roles.
Locations affected include London, Bristol, Leeds and Edinburgh.
A spokesperson said it would try to keep compulsory redundancies to a minimum.
“We are working hard to rebuild RBS in order to repay taxpayers for their support and having to cut jobs is the most difficult part of this process,” said the spokesperson.
Trade union Unite condemned the announcements.
“Once more these banks are attacking some of their lowest paid staff to achieve cost savings,” national officer David Fleming said.
“Today is yet another devastating day for bank workers as they witness these institutions pressing ahead with massive job cuts, without any consideration as to the consequences for these individuals, their families and the economy as a whole.”
