British Lloyds Bank decided to make a mass employee dismissal to decrease company’s costs. A planned number of dismissed workers is about 1 thousand people. This massive action will save Bank about 1 billion pounds per year. Bank struggles from financial crisis since 2008, when British Government funded more than 29,5 billion pounds to support Lloyds. Massive dismissal will negatively affect on Lloyds Bank stock price.
Since past week, Lloyds Bank stocks decreased by 10,4%. This is a great decreasing trend, that traders can use to gain income. Trading will be available during the European session, from 8:15 to 16:30 GMT.
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