Lloyds Banking Group said it will slash 985 jobs over the next two years. It is expected up to 200 jobs will go in Speke, near Liverpool, this year and a further 340 positions will be at risk in Chester in 2010.

Other jobs across Britain, including a number in sales, may also be cut. “Compulsory redundancies will be a last resort,’’ Lloyds said in a statement.