Britain's Lloyds Banking Group said that it plans to cut about 4,300 jobs and transfer 680 more in a series of reorganizational moves in its group operations, insurance and retail division.

The bank, which was bailed out by the government, had already announced a total reduction of 6,400 jobs in the first half of the year. It employed about 118,000 people at the end of June.

It said the latest round of job-cutting would affect 5,000 employees, including about 2,400 contractors, temporary staff and offshore personnel.

Lloyds said 680 of the affected positions will be redeployed to one of seven sites in its retail division.