Lloyds Banking Group is expected to announce plans to create 2,000 new jobs in order to overhaul its tech service.
The high street lender is expected to cut 6,000 roles, whilst adding 8,000 new ones. Unions have been briefed of the job losses spread across the bank.
“Unite will scrutinise the detail of the announcement when it is made. Our priority will be to press the company to ensure there are no compulsory redundancies,” said a Unite spokesperson.
It has been understood that Lloyds will offer employees whose jobs have been axed the chance to apply for the new roles, with a re-training drive.
Lloyds, which announced 15 branch closures in September, hopes to cut operating costs from 8.2 billion in 2017 to £8 billion in 2020.
High street banks have been reducing branch numbers as they adjust to a rise of mobile and online banking in the UK.
The group will be opening “micro-branches”.
“We will continue to test these new formats and expect to open a small number in early 2018,” said a spokesperson.
“The majority of these branches may not have been upgraded for a number of years, so this does represent an investment for the community,” they added.
Customers will be able to withdraw and deposit cash, open and close accounts, however, will not be able to carry out actions including pay in cash or cheques to credit card, loan or mortgage accounts.
Following a cyber attack over the past month, the group will be replacing debit cards to customers.
Shares in the group (LON: LLOY) closed -1.55% on Monday.