Angelica Mari, Computing, Friday 26 February 2010 at 14:25:00
And technology integration is on track
Lloyds Banking Group (LBG) has reduced its yearly IT spend by six per cent to According to the bank?s results released today, the cost reduction of �82m LBG said it is "making good progress" towards integrating the entire ?Detailed plans are in place, along with testing requirements that are fully At the bank?s wholesale arm, for example, the initial planning and LBG said that a core focus area for 2010 is planning and execution of However, the taxpayer-supported bank recorded a �6.3bn loss, largely due to a LBG said that the "overwhelming majority" of its job cuts in 2009 were
�1.2bn as the financial giant continues to integrate Lloyds TSB and HBOS.
has been achieved through the consolidation of IT operations across the group as
well as lower investment spend as project activity was replaced by integration
work.
organisation, with preparations for data migration in "full flight".
commensurate with an integration of this scale,? the bank said in its annual
financial statement.
organisational design stage has been finished, major decisions related to
systems have been made and the first product migrations have also been
completed.
additional product migrations and enhancing its risk systems.
�24bn impairment on legacy HBOS assets.
achieved through re-deployment, "natural turnover" and voluntary redundancy,
while a small amount left via compulsory redundancy.
IT
workers were among the worst-hit by the cull.
Full story at http://www.computing.co.uk/computing/news/2258609/lloyds-banking-group-reduces
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