Lloyds Bank To Cut 3,000 Jobs In UK Ahead Of Brexit

In the wake of Brexit the United Kingdom’s biggest bank has announced to be cutting 3,000 more jobs and make an arrangement of saving 400 million pounds annually.

Lloyds Banking Group shares have falled about 25 percent so far in 2016 and after the Britain’s vote in favor of Brexit it is believed to plunge further.

Earlier this year the bank announced of having plans for 12,000 job cuts.

However, the business atmosphere in the country has a mixed picture as on Wednesday McDonald’s announced to be creating 5,000 more jobs in the UK by the end of next year.

Meanwhile, British Prime Minister Theresa May has started meeting leaders of other European countries including France, Germany, Slovakia, Poland and Ireland to build a strong road towards less damage after the country leaves EU bloc.

On Wednesday Michel Barnier was elected as the European Commission’s chief Brexit negotiator.

YouGov and the Centre for Economics and Business Research reported the UK consumer confidence plummeted to its lowest level in past three years.