Several hundred employees of Lloyds Banking Group protested in Madrid Tuesday against proposed cutbacks in Spain as part of the bank's plans to slash 5,000 jobs worldwide.
The demonstrators blew whistles and chanted slogans for about one hour outside the headquarters of the bank in the centre of the Spanish capital.
Lloyds announced last week it would cut 5,000 jobs by the end of 2010 as it continues to reduce overlap following its merger with HBOS last year.
The British government has a 43-percent stake in Lloyds Banking Group after bailing out the company in the wake of the fierce global financial crisis.
LBG, created in January when Lloyds TSB bought rival lender HBOS in a state-brokered deal, has now axed about 13,000 jobs since the start of 2009.
Source: AFP Global Edition
