LLOYDS Banking Group, which owns the Bank of Scotland, has been criticised by unions after announcing another round of job cuts.

The Unite union said 850 staff would be axed, mainly in Southend, Essex, on top of 2750 job losses this year.

The cuts are the latest jobs blow to the banking industry, which has shed more than 70,000 staff since the start of the credit crunch.

Since 2008 Lloyds has cut 38,000 jobs, while the Royal Bank of Scotland has shed around 35,500 posts.

This year Lloyds, HSBC and Barclays combined have announced cuts of around 5500 jobs, said Unite.

Lloyds' office in Southend is set to close, putting 690 jobs at risk, while the bank is also cutting another 160 roles across its commercial banking and bank assurance operations, said Unite.

The bank, along with RBS, is part-owned by the taxpayer after receiving billions in Government bailouts.

Unite's national officer Dominic Hook said: "Lloyds is celebrating a return to profit and there are hints of dividend payouts to shareholders but the bank's workers are in constant fear they will be next for the chop.

"It's time to review this continuous tide of cuts and build the bank's strength.

"The constant job cuts across the banking industry is bad for bank staff, does nothing to support customers and it's bad for Britain's economy."

Lloyds said around 275 roles are being created, mainly in Belfast and Pitreavie, Scotland.

It said: "Lloyds Banking Group is committed to working through these changes with employees in a careful and sensitive way."