Lex Autolease has announced that it will cut 175 jobs by the end
of 2010, following an organisational review.

The fleet management and leasing company, formed as a result of
the integration of HBOS and Lloyds TSB’s fleet units Lex and Lloyds
TSB Autolease, will reportedly close its Chester branch, but will
retain its offices in Amersham, Birmingham, Bury, Cheadle and
Stirling.

Redeployment of staff within the group is preferred, in order to
retain their expertise, Lex Autolease said, adding: “Where it is
necessary for employees to leave, voluntary severance will be
offered and all possible steps will be taken to minimise any
compulsory redundancies.”

Managing director Nigel Stead said: “Bringing together the two
leaders in the sector has naturally created duplication in certain
areas and we are tackling those in a considered way to ensure our
award winning customer offer remains market leading and highly
competitive. We believe this is the way to achieve future
growth.

“The impact will be minimised by placing some employees into new
roles across the wider business, but also through a reduction in
temporary staff, natural turnover and attrition. We are doing
everything to ensure employees are consulted as we work through the
changes and providing every individual with the respect and support
they deserve.”

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