Car finance jobs in Cheltenham and Gloucester cull

Wed, 10 Jun 2009



Some car finance jobs will be caught up in the decision to close the Cheltenham and Gloucester network of branches. The part-nationalised Lloyds Banking Group is making sweeping cuts to try and lower costs.

Part of the changes will include the Black Horse personal finance centres being reduced, and the car finance arm, CarSelect, will be moved from Cardiff to Birmingham, resulting in around 140 job losses by October.

One senior Lloyds executive, Helen Weir, reportedly said: "The strategic focus for C&G from now on will be to further strengthen its intermediary and direct savings businesses."

The impact of the recession is being felt beyond carmakers, and has now spread to the vehicle finance companies that support the industry.
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