Some 16 jobs are expected to be lost in the island as Lloyds Banking Group confirmed plans to shed more than 1,000 staff across the British Isles.
Lloyds said it will cut 1,080 roles, with a further 310 roles being outsourced to new employers. But 90 new roles will be created within its retail, risk and commercial banking divisions.
The jobs being cut in the island are said to be internal not frontline staff and the bank says it does not expect any interruptions to customer service.
Reductions are part of an overall organisational change after Lloyds announced in 2011 it would shed 15,000 roles.
In a statement, the bank said: ‘These are group-wide changes and do not focus on one specific region or part of the business. We are highly committed to our customers in the islands and these changes have been carried out to put ourselves on track for future growth, not to limit our geographic footprint. We have not made these decisions lightly and understand the impact they will have on colleagues.’
The Unite union said it would continue to oppose the job losses.