According to the bank, the cuts will primarily affect staff in its group transformation and retail banking teams.

A Lloyds Banking Group spokeswoman told the BBC: “This morning we shared changes to some of our teams.

“These changes reflect our ongoing plans to continue to meet our customers’ changing needs and make parts of our business simpler.

“The majority of colleagues briefed today will not leave until January at the earliest.”

This follows Lloyds Banking Group recently revealed that its staff will be working from home until Spring 2021 due to the coronavirus pandemic.