The move is part of a £3 billion commitment from Lloyds to invest heavily in technology as part of its three-year strategic plan under chief executive Antonio Horta-Osorio. Lloyds has now announced nearly 10,000 job cuts in the 20 months since the Government sold off its stake in the lender to take it fully private. The bank's efficiency and modernisation drive has been ongoing since it was taken off the public books in May 2017, with Lloyds saying a business overhaul and reduction of its branch network is essential to ensure it stays relevant amid a digital shift. Lloyds raked in £1.82bn of profit in the three months to 30 September. which has left unions questioning the job cuts. Unite national officer Rob MacGregor said: "As the profits stack up for Lloyds, so does the uncertainty for loyal staff who work hard to serve customers. This latest announcement will undoubtedly hit the morale of staff who have had to endure round after round of job cuts, branch closures and constant upheaval.