Staff at Lloyds Banking Group will have to curtail their use of taxis and business class flights as part of efforts by the UK lender to control costs.
The bank, which is in the middle of a £4bn strategic overhaul, is making a “few adjustments” to its travel policy in a bid to reduce both its expenses and carbon footprint, according to a memo sent to Lloyds’ corporate and institutional banking staff earlier this month and seen by the Financial Times.
Business class flights are now limited to international journeys of more than six hours, while domestic flights should be avoided, according to the memo sent by Nick Laird, Lloyds’ chief operating officer.
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